Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which one of the following statements about forecasting is true? Focused forecasting is a technique that focuses on one particular component of demand and develops

Which one of the following statements about forecasting is true?
Focused forecasting is a technique that focuses on one particular component of demand and develops a forecast from it.
Casual methods are used when historical data are available and the relationship between the factor to be forecast and other external and internal factors cannot be identified.
The five basic patterns of demand are the horizontal, trend, seasonal, cyclical, and the subjective judgment of forecasters.
Judgment methods are particularly appropriate for situations in which historical data are lacking.
image text in transcribed

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

Stage Management

Authors: Lawrence Stern, Jill Gold

12th Edition

0367647893, 978-0367647896

More Books

Students also viewed these General Management questions

Question

Prepare Journal Entry required for the 2 0 2 3 .

Answered: 1 week ago

Question

Explain the importance of Human Resource Management

Answered: 1 week ago

Question

Discuss the scope of Human Resource Management

Answered: 1 week ago

Question

Discuss the different types of leadership

Answered: 1 week ago

Question

Write a note on Organisation manuals

Answered: 1 week ago

Question

Explain the need for remedial basic skills training programs

Answered: 1 week ago

Question

Describe a typical interpersonal skills training program

Answered: 1 week ago