Which of the following statements about forecasts is true?

A. Forecasts for groups of products tend to be more accurate.

B. Forecasts are almost always right.

C. Forecasts can be substituted for calculated values.

D. Forecasts for the long term tend to be more accurate than for near term.

Question

Business

Morrison

26 September, 11:17

Which of the following statements about forecasts is true?

A. Forecasts for groups of products tend to be more accurate.

B. Forecasts are almost always right.

C. Forecasts can be substituted for calculated values.

D. Forecasts for the long term tend to be more accurate than for near term.

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Answers (1)

Know the Answer?

Jaida Herring · Answer 1

Forecasts for groups of products tend to be more accurate.

Explanation:

Forecast for the groups of product is relatively more accurate than individual products. The uncertainty factor for individual product are higher than the group of product because any positive or genitive variance in variances are netted off in the group. So, the forecasted value of group are more accurate than every individual items.

Which of the following statements about forecasts is true?A. Forecasts for groups of products tend to be more accurate.B. Forecasts are almost always right.C. Forecasts can be substituted for calculated values.D. Forecasts for the long term tend to be more accurate than for near term.

Which of the following statements about forecasts is true?

A. Forecasts for groups of products tend to be more accurate.

B. Forecasts are almost always right.

C. Forecasts can be substituted for calculated values.

D. Forecasts for the long term tend to be more accurate than for near term.