Question 3. Consider the following research questions or hypotheses. What variables need to be measured in each? Do consumers who spend more time and are more committed to Facebook spend more money at Amazon.com? What are the demographic characteristics of consumers who belong to the PowerUp Rewards program (loyalty program) of GameStop (video games and accessories) stores? The temperature inside the supermarket will determine how much time that shoppers spend in the store such that when the store is cold they will spend less time shopping than when the store is warm. Product price is related positively to product quality. Consumer perceptions of value from a service provider are related negatively to the likelihood of switching service providers.

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Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.