Exam 5: Determining HR Demand

A regression analysis is a form of time series design that uses the data from the current year (period)to predict next year's (period's)demand,reflecting a linear relationship.

The demand for human capital is determined by the strategic requirements of the firm.

Simulation is a powerful blend of quantitative and qualitative analysis.

In a trend analysis,it is necessary to extrapolate data related to historical changes.

In the Delphi technique,why does the project coordinator continue to issue questionnaires to the experts?

A staffing table forecasts the total HR demand required for operational or short-run time periods.

A primary advantage to NGT is that it allows all participants to contribute to the process at an equal level by reducing the tendency for more extroverted individuals to dominate the process.

What is another name for the dependent variable in the simple regression prediction model?

Describe how HR Budgets and staffing tables are applied in HR demand forecasting.

When there is a great degree of uncertainty,quantitative models may be preferable.

Multivariate regression and other similar modelling/programming models depend on large amounts of reliable data.

The Delphi technique is a quantitative method for deriving detailed assumptions of long-run HR demand.

In the Delphi technique,why do the experts NOT meet face-to-face?

Typical estimates for scenario forecasting are organized into optimistic,realistic,and pessimistic scenarios.

The HR budget process produces a staffing table,which contains information related to a specific set of operational assumptions or levels of activity.

A simulation is a quantitative model that incorporates a set of assumptions about relationships among variables in a mathematical algorithm.

What federal government agency provides expert information for labour demand forecasting?

What do you call the observed relationship between the independent and dependent variables?

Refer to Scenario: Canadian Engineering Shortages.Using the information you know about forecasting HR demand,what advice would you offer to Engineers Canada to address the replacement demand for engineers over the next decade?

A systems perspective suggests that in order to determine the demand for any job,it is first necessary to understand how that job fits into the needs of the organization,and how those job requirements interact with other jobs within the firm.