Which of the following methods lends itself to forecasts for long-term emerging phenomena or revolutionary technologies? A. the sales force estimate technique B. the delphi method C. the jury of executive opinion method D. market testing

Which of the following methods lends itself to forecasts for long-term emerging phenomena or revolutionary technologies? A. the sales force estimate technique B. the delphi method C. the jury of executive opinion method D. market testing

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section: Chapter Questions

Problem 40P: The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels....

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Concept explainers

Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.

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