Podcast
Questions and Answers
What is the purpose of forecasting?
What is the purpose of forecasting?
- To identify potential risks (correct)
- To predict the future with certainty
- To analyze historical data
- To make decisions without any basis
When deciding to bring an umbrella, what is a common basis according to the text?
When deciding to bring an umbrella, what is a common basis according to the text?
- Weather app notification
- Habit
- TV/radio weather forecast (correct)
- Intuition
Why are logical, rational, and accurate decisions important in businesses?
Why are logical, rational, and accurate decisions important in businesses?
- To lead to suffering of the whole organization
- To complicate processes
- To ensure negative outcomes
- To avoid negative outcomes and ensure success (correct)
What is a key benefit of performing forecasting in organizations?
What is a key benefit of performing forecasting in organizations?
Which of the following best describes forecasting?
Which of the following best describes forecasting?
What is one of the objectives of forecasting as mentioned in the lesson?
What is one of the objectives of forecasting as mentioned in the lesson?
What is the primary objective of forecasting?
What is the primary objective of forecasting?
Who uses forecasting as a tool for long-range planning and capital budgeting decisions?
Who uses forecasting as a tool for long-range planning and capital budgeting decisions?
What aspect of production utilizes the forecasts?
What aspect of production utilizes the forecasts?
Which forecasting approach incorporates factors like intuition, emotion, and personal experiences?
Which forecasting approach incorporates factors like intuition, emotion, and personal experiences?
What is the Delphi Method in forecasting?
What is the Delphi Method in forecasting?
How does Sales Force Polling differ from Expert Opinions?
How does Sales Force Polling differ from Expert Opinions?
What is the purpose of Consumer Market Surveys in forecasting?
What is the purpose of Consumer Market Surveys in forecasting?
What does PERT-derived Forecasts methodology require the expert to provide?
What does PERT-derived Forecasts methodology require the expert to provide?
$What is the primary use of forecasting for finance managers?$
$What is the primary use of forecasting for finance managers?$
