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Questions and Answers
Which term refers to the process of predicting a future event?
Which term refers to the process of predicting a future event?
- Facilities
- Forecasting (correct)
- Inventory
- Production
What is the time horizon for short-range forecasts?
What is the time horizon for short-range forecasts?
- Up to 1 year (correct)
- 3 months to 3 years
- 3+ years
- None of the above
What is the underlying basis of all business decisions?
What is the underlying basis of all business decisions?
- Facilities
- Personnel
- Inventory
- Forecasting (correct)
Which type of forecast is used for sales and production planning?
Which type of forecast is used for sales and production planning?
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Which type of forecast is used for new product planning?
Which type of forecast is used for new product planning?
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Which type of forecast deals with more comprehensive issues and supports management decisions?
Which type of forecast deals with more comprehensive issues and supports management decisions?
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What is the time horizon for medium-range forecasts?
What is the time horizon for medium-range forecasts?
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Which factor is NOT considered in short-range forecasts?
Which factor is NOT considered in short-range forecasts?
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What is the primary purpose of long-range forecasts?
What is the primary purpose of long-range forecasts?
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What is the underlying basis of all business decisions?
What is the underlying basis of all business decisions?
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