Which of the Following Is True of Statistical Forecasting Methods

question 51

Multiple Choice

Which of the following is true of statistical forecasting methods that capture historic trends?

• A)They are useful for predicting events in the labor market that have no historic precedent.
• B)They are particularly useful in situations where there is no long,stable history.
• C)They provide predictions that are much more precise than judgmental methods.
• D)They remove the need for subjective judgments of experts.
• E)They include variables such as intuition and guesswork in economic decision-making.

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Definitions:

Leaders' Attitudes

The perspectives or mindsets of individuals in leadership positions, which can influence their behavior and decision-making processes.

Valuing Diversity

The practice of recognizing and respecting differences among people, including culture, race, gender, and beliefs, and seeing these differences as a source of strength.

Openness to Change

The willingness or readiness of an individual or organization to adapt and embrace changes in their environment or internal practices.

Conditions Precede

Circumstances or criteria that must occur or be met before a certain event can happen.