Question: Many multinational firms use forecasting services regularly. If forecasting is essentially foretelling the future, and that is theoretically impossible, why would these firms spend money

Many multinational firms use forecasting services regularly. If forecasting is essentially "foretelling the future," and that is theoretically impossible, why would these firms spend money on these services?

Step by Step Solution

★★★★★

3.50 Rating (173 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

If nothing else a variety of opinions is generally useful when a... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1170-B-B-F-C(584).docx

120 KBs Word File

Students Have Also Explored These Related Banking Questions!

The Wolfson Group (WG) provides tax advice to multinational firms. WG charges clients for (a) direct professional time (at an hourly rate), and (b) support services (at 30% of the direct professional...

1. What business purpose is served by the L-1 visa program? 2. Does the INA impose the burden of proof on the transferee and his or her employer to demonstrate that the transferees responsibilities...

Multinational firms domiciled in the United States do not have to pay U.S. income taxes on foreign earnings, unless those earnings are returned to the United States. Accordingly, the U.S. income tax...

Questions: Why is Wal-Mart successful in the US? What are its competitive advantages? Should Wal-Mart replicate its domestic model in its original form in China? Why? Can it build the same...

Make the summary of the following chapter "Basic Elements of Planning and Decision Making" . Obviously, insurance companies incur immense risks because of the number of policies they issue, but you...

Summarize the following chapter: (Basic Elements of Planning and Decision Making) Obviously, insurance companies incur immense risks because of the number of policies they issue, but you may not know...

Summarize the following chapter: (Basic Elements of Planning and Decision Making) Decision Making and the Planning Process Decision making is the cornerstone of planning. Several years ago, Procter &...

Summarize the following chapter in your words: (Basic elements of Planning and Decision making) Decision Making and the Planning Process:> Decision making is the cornerstone of planning. Several...

Summarize the given chapter: (Basic Elements of Planning and Decision Making) what are Decision Making and the Planning Process? Decision making is the cornerstone of planning. Several years ago,...

Income Statement of an interior design firm, Grand Designs, that makes money by selling hours (fees) and by selling furniture or other items (Sale of Goods). 1) Using the formula for Profit Margin,...

What are the three primary ways of measuring the effectiveness of public relations campaigns? Briefly discuss each form of measurement

Explain what ISAM is.

20. The probability distribution for damage claims paid by the Newton Automobile Insurance Company on collision insurance follows. Payment ($) Probability 0 .85 500 .04 1000 .04 3000 .03 5000 .02...

4.2 The aspirin sold in airports is more expensive than aspirin sold in grocery stores because the demand for aspirin in airports is relatively .

Crystal Gomez, who lives in Mexico City, bought 100 Pokcoins for 17 Mexican pesos (Ps or MXN). Nintendo of Japan, one of the part owners of Pokmon Go, will need to convert the Mexican pesos (Ps or...

If shareholders are unhappy with the current leadership of a firmits actual management and controlwhat are their choices? a. Remain quietly disgruntled b. Sell their shares c. Change management d....

Ferrari, the famous high-performance automotive group, launched its initial public offering (IPO) on October 20, 2015. Although the share price had initially risen to over 57 per share, by the end of...

You are serving on a jury. A plaintiff is suing the city for injuries sustained after a freak street sweeper accident. In the trial, doctors testified that it will be five years before the plaintiff...

Question 7 (1 point) Saved The Organisation for Economic Co-operation and Development (OECD) administered a random telephone survey during the day regarding the percentage of stay-at-home moms and...

A 5 year treasury bond has a 3.25% yield. A 10-year treasury bond yields 6.5% and a 10 year corporate bond yields 9.95%. The market expects that inflation will average 1.8% over the next 10 years....