Which one of the following statements about forecasting is FALSE?
A. Causal methods of forecasting use historical data on independent variables (promotional campaigns, competitors' actions, etc.) to predict demand.
B. Three general types of forecasting techniques are used for demand forecasting: time-series analysis, causal methods, and judgment methods.
C. Time series express the relationship between the factor to be forecast and related factors such as promotional campaigns, economic conditions, and competitor actions.
D. A time series is a list of repeated observations of a phenomenon, such as demand, arranged in the order in which they actually occurred.
Answer:C
Which one of the following statements about forecasting is FALSE?
A. Causal methods of forecasting use historical data on independent variables (promotional campaigns, competitors' actions, etc.) to predict demand. B. Three general types of forecasting techniques are used for demand forecasting: time-series analysis, causal methods, and judgment methods. C. Time series express the relationship between the factor to be forecast and related factors such as promotional campaigns, economic conditions, and competitor actions. D. A time series is a list of repeated observations of a phenomenon, such as demand, arranged in the order in which they actually occurred.