Answer the following statements true (T) or false (F)
1. Two types of forecasting are trend analysis and competitive intelligence.
2. Contingency planning is a hypothetical extension of a past series of events into the future.
3. Too little or unreliable historical data may result in erroneous trend analyses.
4. Contingency planning can also be called scenario analysis.
1. FALSE
Two types of forecasting are trend analysis and contingency planning.
2. FALSE
A trend analysis is a hypothetical extension of a past series of events into the future.
3. TRUE
The basic assumption of a trend analysis is that the picture of the present can be projected into the future. This is not a bad assumption, if you have enough historical data, but it is always subject to surprises. And if your data are unreliable, they will produce erroneous trend projections.
4. TRUE
Contingency planning, also known as scenario planning and scenario analysis, is the creation of alternative hypothetical but equally likely future conditions.
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Answer the following statement true (T) or false (F)
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