Forecasts are generally wrong. a. Why are forecasts generally wrong? b. Explain the term wrong as it

Question:

Forecasts are generally wrong.

a. Why are forecasts generally wrong?

b. Explain the term "wrong" as it pertains to a good forecast.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Operations Management

ISBN: 978-1259667473

13th edition

Authors: William J. Stevenson

See More Books

Question Posted: May 24, 2017 09:12 AM

See More Questions

Why are forecasts of revenues and income relatively uncommon?
Explain the 80% rule as it pertains to the formation of a corporation.
Explain the principal-agent problem as it pertains to equity contracts.
Relationship of the Balanced Scorecard to activity-based costing Explain how an activity-based costing model can be linked to a Balanced Scorecard approach.
How do the expected rates of return compare with the required rates of return? Discuss.
Use the sum and difference identities to evaluate exactly. Then check using a graphing calculator. tan 105
Victor and Vincents partnership had a final profit for the year of $$40$ 500. When the partnership was formed at the beginning of the year Victor invested $$150$ 000 and Vincent invested $$100$...
Using the present value tables, solve the following problems: Required 1. What is the present value on January 1, 2007 of $30,000 due on January 1, 2012 and discounted at 12% compounded annually? 2....
The DD-AA model predicts that a permanent increase in foreign money demand will lead to an improvement in the domestic current account. True/False/Uncertain, explain and support your answer with ONE...
This assignment is similar to VistaBeans. You will try to figure out how to maximize profits for a manufacturing company. It may be a good idea to eliminate certain products, or examine how one...
The manager of a crew that installs carpeting has tracked the crew's output over the past several weeks, obtaining these figures: Week .............Crew Size ..........Yards Installed...
In wintry conditions, highway safety is improved by treating road surfaces with substances that will provide traction and/or melt snow and ice. Sand and rock salt are two widely used substances....
The website TED.com offers free short presentations, called TED Talks, on a variety of interesting subjects. One of the talks is called The Happy Planet Index, by Nic Marks. Marks comments that we...
What do brands want to accomplish with mobile media?
What are some of the most successful engagement devices used in alternative media?
Define and explain the differences between presence, grassroots, and influence marketing.
How can guerrilla marketing ensure return on investment?
Define brand-centric vehicles.
Programming Exercise 5.45 computes the standard deviation of numbers. This exercise uses a different but equivalent formula to compute the standard deviation of n numbers. To compute the standard...
Briefly describe the following types of group life insurance plans: a. Group term life insurance b. Group accidental death and dismemberment insurance (AD&D) c. Group universal life insurance d....
List the steps in the decision-making process.
The following diagram describes a process that consists of eight separate operations, with sequential relationships and capacities (units per hour) as shown. a. What is the current capacity of the...
If the learning phenomenon applies to all human activity, why isn't the effect noticeable in mass production or high-volume assembly work?
(a). In the context of Current Cost Accounting (CCA), briefly explain the meaning of the following terms. (i). Monetary working capital adjustment (2 marks) (ii). Gearing adjustment (2 marks)(b)....
How do laws originate? Explain the differences between various sources of law and describe the branches of government and their roles in creating, administering, and enforcing the law. In addition,...
Monte is a resident taxpayer. During the 2023 income year, Monte recorded the following: Salary received from part-time employment (no PAYG) 22,000 Bonus due but not yet received from part-time...

Forecasts are generally wrong. a. Why are forecasts generally wrong? b. Explain the term wrong as it

Question:

Step by Step Answer:

a Forecasts mostly seem to be wrong its just a vague prediction as we would like them to ...View the full answer

Operations Management

Students also viewed these Management Leadership questions