1) You should only use the past to forecast the future:
True
False
2) Choose the best answer. 3 uses of forecast and their time frames, Use the system:
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annually |
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daily/weekly |
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hourly |
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as required |
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monthly |
3) Choose the best match. Judgmental methods, Sales force opinions:
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questionnaires or focus groups
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technological |
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use demand for a similar product
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pool opinions of high-level executives
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based on direct customer contact
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4) Choose the answer with the best match. Elements of a Good Forecast, Timely:
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The degree of accuracy of the forecast should be stated
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The forecasting horizon must cover the time necessary to implement possible changes so that its results can be used
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The units measured should be useful to those using the forecast
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It should work consistently
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The benefits should outweigh the costs
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