Exam 5: Determining HR Demand

Refer to Scenario: Canadian Engineering Shortages.The growth in demand for civil engineering occupations has been strong due to the rising needs associated with the high number of retiring workers.Although countless challenges influence the demand for engineering professionals,what is the primary cause of demand in this case?

Describe what an "expert" demand forecast is and list five different types of experts who could be involved.Identify and describe two different types of expert forecasting methods.

HR forecasters uses various statistical forecasting methods.What statistical technique permits the testing of multiple relationships simultaneously in a theoretically derived model?

What type of analysis reveals the historical relationship between the operational index and the demand for labour?

What technique should be used if you want all the participants to have equal participation in the sessions and to minimize dominance,personal attacks,and defensive behaviour?

In a simple regression prediction model,what does B represent?

A deficiency of the Delphi technique is that the results cannot be verified statistically.

In general,qualitative models are better when forecasting demand in stable markets when there is a high degree of certainty in the relationship between the demand for labour and the indicators of that demand.

Structural equation modelling (SEM)is as a process similar to regression,except that SEM uses many outcome variables in a single theoretical model.

There are two main factors that determine whether a quantitative model or qualitative model is a better choice.Which of the following is one of these factors?

Regression analysis is a very effective quantitative forecasting technique for all time horizons.

What type of qualitative forecasting method is concerned with long-run forecasting utilizing expert assessments?

What forecasting model or technique would be better when forecasting demand in a stable market when there is a high degree of certainty in the relationship between the demand for labour and the indicators of that demand?

If you want to determine the total HR demand requirement for operational or short-run time periods,what type of information should you gather?

How do the experts finally agree on a solution in the nominal group technique?

The primary drawback to structural equation modelling (SEM)is that SEM typically requires more data observations than regression.

What qualitative forecasting process solicits and summarizes the forecasts and judgments of a selected group of experts in an attempt to determine the future HR demand?

Scenario forecasting is based on the premise that,because the future course of events is not known with certainty,it is necessary to develop several plausible sets of outcomes.

Long-term forecasts in this uncertain environments will require more qualitative methods and simulations that permit exploring multiple scenarios.

One main factor that determines whether a quantitative model or qualitative model is a better choice is the volume and complexity of the data that are available to assist in creating the demand forecast.