Describe some of the issues that managers must consider in applying forecasting methods in practice
In practice, managers use a variety of judgmental and quantitative forecasting techniques. Statistical methods alone cannot account for such factors as sales promotions, competitive strategies, unusual economic or environmental disturbances, new product introductions, large one-time orders, labor union strikes, and so on. Many managers begin with a statistical forecast and adjust it to account for such factors. Others may develop independent judgmental and statistical forecasts and then combine them, either objectively by averaging or in a subjective manner. The choice of a forecasting method depends on the time span for which the forecast is being made, the needed frequency of forecast updating, data requirements, the level of accuracy desired, and the quantitative skills needed.
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Setting internal transfer prices for products or services falls under the planning stage of the management process
Indicate whether the statement is true or false
Choose one or more ________________ to help you address a problem or resolve an issue
a. research methods b. reference books c. thinking strategies d. leadership strategies
Which of following statements concerning health savings accounts (HSA) is incorrect?
A) Your contributions are tax deductible whether or not you itemize. B) Employer contributions are not included in your gross income. C) Amounts in the account at the end of the year are forfeited. D) Funds in the account may be used as a source of retirement funds.
Management of liquidity risk is the major reason why commercial banks are subject to reserve requirements.
Answer the following statement true (T) or false (F)