What Are Forecasts

Multiple Choice

What are forecasts?

A) a statement about what will happen or might happen in the future; for example, predicting future sales or employee turnover
B) a statistical process that finds the way to make a design, system, or decision as effective as possible; for example, finding the values of controllable variables that determine maximal productivity or minimal waste
C) predictions based on time-series information
D) a statistical process for estimating the relationships among variables