Barney took what he liked to call "the shotgun approach" to forecasting. Every period he tried a number of different forecasting approaches and at the end of the period he reviewed all of the forecasts to see which was the most accurate. The winner would be used for next period's forecast (but he still made forecasts all possible ways so he could use the system again for the following period). The more formal name for this technique is:
A. combination forecasting.
B. post-hoc forecasting.
C. focus forecasting.
D. shotgun forecasting. He is using the correct terminology.
Answer:C
Barney took what he liked to call "the shotgun approach" to forecasting. Every period he tried a number of different forecasting approaches and at the end of the period he reviewed all of the forecasts to see which was the most accurate. The winner would be used for next period's forecast (but he still made forecasts all possible ways so he could use the system again for the following period). The more formal name for this technique is:
A. combination forecasting. B. post-hoc forecasting. C. focus forecasting. D. shotgun forecasting. He is using the correct terminology.