Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Last year, the analysts responsible for forecasting sales at PlastiPharm forecasted an increase of 10 percent for the year. They used historical records as well

Last year, the analysts responsible for forecasting sales at PlastiPharm forecasted an increase of 10 percent for the year. They used historical records as well as past economic growth rates to determine the forecast, but it was too low - by 8 percent. Why should the forecasters even bother to estimate if their predictions could still be off? Choose the best explanation.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Operations Management

Authors: William J Stevenson

12th edition

2900078024107, 78024102, 978-0078024108

More Books

Students also viewed these General Management questions

Question

a . What is the vulnerability being exploited?

Answered: 1 week ago

Question

What is management growth? What are its factors

Answered: 1 week ago