Which of the following best describes the human resource forecasting process?Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answerabCda basic pattern that flows from a micro perspective to a macro perspectivea macro perspective that takes into account general trends in society and the economya basic pattern that flows from a macro perspective to a micro perspectivea micro-level perspective that focuses more directly on challenges that are specific to the

The process of making forecasts and preparations to fulfill a particular company requirement…

Answered: Which of the following best describes…

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

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1-What is the difference between qualitative forecasting techniques and quantitative forecasting techniques?
Prompt 1: In the healthcare industry, everything is measured. From drip rates to dosages, it seems as though numbers are everywhere. But how does this reflect the care given to the patients? Which type of data (qualitative or quantitative) do you think yields the most information? Why? Which type of data (qualitative or quantitative) is most effective for forecasting future trends? Why? Which practices can a healthcare manager use to ensure that the data used for forecasting trends is accurate? Provide examples of data evaluation in different types of facilities. Provide examples of data evaluation for different types of issues, such as billing or loss of revenue.
Which of the following is important if forecasting is to have the desired positive effect on decisions? A. Communication between forecast staff and managment B. Ranges of forecast are reported to managment C. Forecast combination is examined D Forecast presentations should not be overly technical unless managment desires E All of the above Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 45 percent of capacity, actual usage was 52 percent of capacity. A smoothing constant of .05 is used. a. Prepare a forecast for September. (Round your final answer to 2 decimal places.) Forecast for September percent of capacity b. Assuming actual September usage of 52 percent, prepare a forecast for October usage. (Round your answer to 2 decimal places.) Forecast for October percent of capacity
Describe the various types of time-series and associative forecasting models. Which types of organizations are each of these most applicable to, and why?
Explore the ethical considerations in utilizing predictive analytics for customer behavior forecasting in CRM.
ontrast the reactive and proactive approaches to forecasting. Give several examples of types of organizations or situations in which each type is used.
If descriptive analytics focuses on summarizing historical data to gain insights into past events and trends and predictive analytics focused on forecasting future outcomes. What is the significance of the relationship between the past and the future?
Explain qualitative forecasting methods that managers can use to predict future behavior in various aspects of a company's operations. Use the following guide: Development Define and provide an example of each of the following qualitative forecasting techniques: Executive opinionSales force estimatesDelphi methodMarket research
Do you think that the use of Pivot Tables is important for a Business Analysis? Argument your answer.
There are two major ways of gaining data for the technology forecast. Which one you prefer using for technology forecasting?
Naïve method versus three period Moving Average The number of major plumbing repair jobs performed by Augur’s Plumbing Service in each of the last six months is listed below. Month Jobs October 92 November 94 December 98 January 95 February 99 March 104 Use the ‘textbook’ naïve method to forecast April jobs (Ft+1 = Xt + (Xt – Xt-1). Use the three- period moving average to forecast jobs in April Based upon the MAD (mean absolute deviation), determine whether the three-period moving average or textbook naïve method is more accurate, based upon forecasts for January through March.

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