Organizations Use Which Three Major Types of Forecasts, Including Two

question 36

Multiple Choice

Organizations use which three major types of forecasts, including two that may fall outside the role of the operations manager?

• A) strategic, tactical, and operational
• B) economic, technological, and demand
• C) exponential smoothing, Delphi, and regression
• D) causal, time-series, and seasonal
• E) departmental, organizational, and territorial

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Definitions:

Demand Price

The highest price that consumers are willing to pay for a good or service at a given quantity.

Supply Price

The lowest price at which a seller is willing to sell a good or service, influenced by costs of production and market demand.

Quota Rent

The earnings exceeding normal profits received by license holders when import quotas are in place.

Demand Price

The price of a good or service dictated by the desire and ability of consumers to purchase it at certain price levels.