All of the Following Are Categories of Common Forecasting Techniques

question 107

Multiple Choice

All of the following are categories of common forecasting techniques for business except

• A) surveys.
• B) time series analysis.
• C) customer determined.
• D) executive judgment.
• E) market tests.

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Definitions:

Work Force

The collective group of individuals employed in a company or industry, contributing to its productivity through their efforts and skills.

Productivity

The efficiency with which inputs are converted into outputs, often measured in terms of the rate of output per unit of input.

Central Limit Theorem

A statistical principle that states the distribution of sample means approximates a normal distribution as the sample size becomes larger, regardless of the population's distribution.

68-95-99.7 Rule

A statistical rule stating that in a normal distribution, approximately 68% of the data falls within one standard deviation of the mean, 95% within two, and 99.7% within three.