State whether the following statements are true or false. If the statement is false, write the correct answer: Forecasting is a prediction rather than a reality to mislead an organization into implementing the proper decisions.Answer: Short range forecast generally is used for decision making in a period of about three months, and the decision taken are related to job scheduling, assignments and production levels.Answer: Associate forecasting considers several dependent and independent variables to build a model and then forecast an item of interest.Answer:.please make sure the answer is correct 100%

The term forecasting is a technique that uses the historical data as inputs to make the informed…

Answered: Forecasting is a prediction rather than…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Related questions

Concept explainers

Question

State whether the following statements are true or false. If the statement is false, write the correct answer:

Forecasting is a prediction rather than a reality to mislead an organization into implementing the proper decisions.

Answer:

Short range forecast generally is used for decision making in a period of about three months, and the decision taken are related to job scheduling, assignments and production levels.

Answer:

Associate forecasting considers several dependent and independent variables to build a model and then forecast an item of interest.

Answer:

please make sure the answer is correct 100%

Expert Solution

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.

Similar questions