Which One of the Following Statements About Forecasting Is TRUE

question 40

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 particularly appropriate for situations in which 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:

Biological Patterns

The recurring or systematic features found within biological systems or entities, often indicative of underlying processes or genetic traits.

Folkways

Norms for routine or casual interaction that guide everyday behavior in a society, though they are not strictly enforced.

William Graham Sumner

A prominent American social scientist known for his work in sociology and anthropology, emphasizing social Darwinism and the conflict of social norms.

Behavior

Behavior encompasses the actions and reactions of an individual or group in response to external or internal stimuli.