Which One of the Following Statements About Forecasting Is TRUE

question 163

Multiple Choice

Which one of the following statements about forecasting is TRUE?

• A) The five basic patterns of demand are the horizontal, trend, seasonal, cyclical, and the subjective judgment of forecasters.
• B) Judgment methods are designed particularly for situations when historical data are lacking.
• C) Casual methods are used when historical data are available and the relationship between the factor to be forecast and other external and internal factors cannot be identified.
• D) Focused forecasting is a technique that focuses on one particular component of demand and develops a forecast from it.

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Definitions:

Impasse

A deadlock or stalemate situation where parties involved in a negotiation or discussion are unable to move forward to reach an agreement.

Intensifies

To become or make more intense, amplifying the strength or seriousness of something.

Constructive

Relating to or characterized by building up, improving, or contributing positively to something.

Significant

Having a particularly important, notable, or consequential value or impact.