Time series analysis uses histograms in forecasting data. Response: True Question 2 In preparing the sales budget, the sales team should consider past sales performance, market trends, seasonal fluctuations, and hearsay about the industry prices. Response: [none] Question 3 Companies may use presentation software to build business models to assist the forecasting and planning process. Response: [none] 9/6/24, 3:36 AM Management Reporting - SY2425-1T - https://elms.sti.edu/student_take_quiz_assignm... https://elms.sti.edu/student_take_quiz_assignment/start/47188740# 1/3 Question 4 The operating budget typically covers two years of the business cycle. Response: [none] Question 5 The sales volume is the principal budget factor since it sets the limit for all business activities. Response: [none] Question 6 Big data refers to the information that communities generate each year. Response: [none] Question 7 The High-Low method involves finding the average value of the costs incurred at the various output levels. Response: [none] Question 8 A budget is a detailed plan expressed quantitatively for producing and utilizing the company's resources over a period. Response: [none] Question 9 9/6/24, 3:36 AM Management Reporting - SY2425-1T - https://elms.sti.edu/student_take_quiz_assignm... https://elms.sti.edu/student_take_quiz_assignment/start/47188740# 2/3 A departmental budget is a budget of income and expenditure applicable to a particular function. Response: [none] Question 10 Forecasts are subject to error