The Process of Predicting What Will Happen in the Future

question 15

Multiple Choice

The process of predicting what will happen in the future is called:

• A) contingency planning.
• B) scenario planning.
• C) forecasting.
• D) zero-based budgeting.

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values differ from the mean of the set.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values deviate from the mean.

Standard Error

The standard deviation of the sampling distribution of a statistic, typically the mean, indicating the variability of an estimate.

Mean

The mean is the average of a set of numbers, calculated by adding them all together and then dividing by the count of those numbers.