The Method Which Would not Be Used to Forecast Sales

question 15

Multiple Choice

The method which would not be used to forecast sales is:

• A)Extrapolation of past sales
• B)Predictions by senior management
• C)Statistical or mathematical techniques
• D)Working out the maximum production that can be achieved

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Definitions:

Random Sample

A subset of a statistical population in which each member of the subset has an equal probability of being chosen.

Normal Population

A population with a distribution that follows a normal curve or Gaussian distribution, characterized by being symmetrical and bell-shaped.

Standard Deviation

A statistical metric that quantifies the amount of variation or dispersion of a dataset relative to its mean.

Mean Age

The average age of all individuals in a particular group or population, calculated by summing their ages and dividing by the number of individuals.