Deck 6: Determining HR Demand

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Question
According to the textbook, what is one disadvantage of the Delphi technique?

A) Groupthink
B) Shyness
C) time and costs
D) Communication
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Question
What stage in the nominal group technique would typically ask a question like, "What will ABC Corporation's demand for production workers be in the year 2015?"

A) select the experts
B) meet face to face
C) define the question
D) discuss demand estimates
Question
According to the textbook, what method of estimating HR demand was used in Ireland?

A) trend analysis
B) ratio analysis
C) cohort analysis
D) impact analysis
Question
What is the most common operational index used by organizations in a trend analysis?

A) sales level
B) units produced
C) clients served
D) production hours
Question
If you want to determine the total HR demand requirement for operational or short-run time periods, what type of information should you gather?

A) staffing table
B) HR budget
C) impact analysis
D) envelope/scenario forecasts
Question
In a simple regression prediction model, what does B represent?

A) dependent variable
B) constant or intercept
C) slope of the linear relationship between X and Y
D) independent variable
Question
According to the textbook, when the Delphi technique was used to identify competencies for research chef, which of the following was NOT a topic for consideration?

A) factors that differentiate successful from unsuccessful research chefs
B) years of experience for successful and unsuccessful research chefs
C) skills and knowledge needed to be a successful research chef
D) tasks that differentiate a successful research chef from an ordinary chef
Question
Which of the following is NOT typically considered to be an expert for HR forecasting?

A) union staff members
B) line employees
C) university researchers
D) business consultants
Question
Which of the following demand forecasting methods is NOT a quantitative method?

A) trend analysis
B) Delphi technique
C) regression analysis
D) staffing table
Question
Typically, how is most of the expert information gathered using the Delphi technique?

A) Interviews
B) discussion groups
C) Teleconferencing
D) Questionnaires
Question
If HR specialists use multiple predictor estimates of the future demand for personnel based on a variety of differing assumptions about how future events will unfold, what type of forecasting technique or analysis are they using?

A) Delphi technique
B) nominal technique
C) impact analysis
D) scenario forecast
Question
Why are assumptions necessary when implementing the steps of the nominal group technique?

A) to minimize the chance that expert estimates will be misinterpreted
B) to make sure that the group is not dominated by one expert estimate
C) to eliminate the necessity for experts to defend their estimates
D) to ensure the validity and confidentiality of the expert estimates
Question
Which of the following is NOT considered a benefit of the nominal group technique?

A) supports brainstorming
B) lower costs and time
C) equal participation
D) reliable and valid
Question
In the Delphi technique, why does the project coordinator continue to issue questionnaires to the experts?

A) Current information has not been optimal and so further information is required.
B) Additional information still needs to be gathered regarding the predetermined questions.
C) Information gathered to date has not lea the group to make a consensual decision.
D) Current information is insufficient in some way that is required to make future supply estimates.
Question
In the Delphi technique, why do the experts not meet face-to-face?

A) They do not have the time.
B) They want to lower costs.
C) They worry about groupthink.
D) They lack communication expertise.
Question
What type of analysis reveals the historical relationship between the operational index and the demand for labour?

A) correlation
B) multivariate
C) trend
D) regression
Question
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?

A) Delphi technique
B) critical incident technique
C) repatriation technique
D) nominal group technique
Question
Which forecasting technique provides a long-run qualitative forecast where experts meet and give their assessments about the future?

A) Delphi technique
B) critical incident technique
C) repatriation technique
D) nominal group technique
Question
What federal government agency provides expert information for labour demand forecasting?

A) National Occupational Classification
B) Citizenship and Immigration Canada
C) Conference Board of Canada
D) Statistics Canada
Question
How do the experts finally agree on a solution in the nominal group technique?

A) by defending their perspectives
B) by voting for the best estimate
C) by lobbying the other group members
D) by ranking the solutions with a secret vote
Question
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the slope of the line?</strong> A)9.87 B)11.32 C)13.47 D)16.03 <div style=padding-top: 35px>
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the slope of the line?</strong> A)9.87 B)11.32 C)13.47 D)16.03 <div style=padding-top: 35px>
What is the value for the slope of the line?

A)9.87
B)11.32
C)13.47
D)16.03
Question
In the Delphi method experts do not meet, but they do in the nominal group technique.
Question
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the sum of XY?</strong> A) 3794 B) 4903 C) 5245 D) 6182 <div style=padding-top: 35px>
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the sum of XY?</strong> A) 3794 B) 4903 C) 5245 D) 6182 <div style=padding-top: 35px>
What is the value for the sum of XY?

A) 3794
B) 4903
C) 5245
D) 6182
Question
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     What are the values for average X and average Y?</strong> A)3.6 and 68.5 B)3.9 and 109.2 C)4.3 and 124.9 D)4.7 and 82.8 <div style=padding-top: 35px>
<strong>Use the following information to answer questions 24-30 that follow.     What are the values for average X and average Y?</strong> A)3.6 and 68.5 B)3.9 and 109.2 C)4.3 and 124.9 D)4.7 and 82.8 <div style=padding-top: 35px>
What are the values for average X and average Y?

A)3.6 and 68.5
B)3.9 and 109.2
C)4.3 and 124.9
D)4.7 and 82.8
Question
A regression analysis is a linear equation between a single causal variable and multiple dependent variables.
Question
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     What is the regression prediction equation?</strong> A) Y = 65.05 + 11.32X B) Y = 68.25 + 13.47X C) Y = 70.99 + 16.03X D) Y = 73.41 + 9.87X <div style=padding-top: 35px>
<strong>Use the following information to answer questions 24-30 that follow.     What is the regression prediction equation?</strong> A) Y = 65.05 + 11.32X B) Y = 68.25 + 13.47X C) Y = 70.99 + 16.03X D) Y = 73.41 + 9.87X <div style=padding-top: 35px>
What is the regression prediction equation?

A) Y = 65.05 + 11.32X
B) Y = 68.25 + 13.47X
C) Y = 70.99 + 16.03X
D) Y = 73.41 + 9.87X
Question
In a trend analysis, it is necessary to extrapolate data related to historical changes.
Question
A staffing table forecasts the total HR demand required for operational or short-run time periods.
Question
There are six steps associated with the Delphi technique for HR demand forecasting. What is the first step?

A) identify the experts, terms and time horizon
B) issue the first-round of questionnaires
C) select the experts
D) define and refine the issue or question
Question
What do you call the observed relationship between the independent and dependent variables?

A) causal
B) direct
C) linear
D) indirect
Question
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the sum of X²?</strong> A) 189 B) 199 C) 209 D) 219 <div style=padding-top: 35px>
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the sum of X²?</strong> A) 189 B) 199 C) 209 D) 219 <div style=padding-top: 35px>
What is the value for the sum of X²?

A) 189
B) 199
C) 209
D) 219
Question
In an impact analysis, current trends are analyzed by a panel of experts to predict future HR demand.
Question
A ratio analysis is a quantitative method of projecting HR demand by analyzing the relationship between an operational index and the number of employees required.
Question
Another name for the scenario forecast method is the projection forecast method.
Question
Trend analyses are complex, since they require the analysis of multiple variables.
Question
According to the article entitled "Projecting Labour Demand in Canada," management occupations will feel the most intense pressure from immigration.
Question
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the y intercept?</strong> A)65.05 B)68.25 C)70.99 D)73.41 <div style=padding-top: 35px>
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the y intercept?</strong> A)65.05 B)68.25 C)70.99 D)73.41 <div style=padding-top: 35px>
What is the value for the y intercept?

A)65.05
B)68.25
C)70.99
D)73.41
Question
What is another name for the dependent variable in the simple regression prediction model?

A) causal variable
B) target variable
C) linear variable
D) random variable
Question
In a simple regression Y is the independent variable.
Question
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     Using your equation from question 29, what is the expected demand for Ph.D. students if you have $200,000 available in HR costs? Round to nearest whole number.</strong> A) 10 B) 11 C) 12 D) 13 <div style=padding-top: 35px>
<strong>Use the following information to answer questions 24-30 that follow.     Using your equation from question 29, what is the expected demand for Ph.D. students if you have $200,000 available in HR costs? Round to nearest whole number.</strong> A) 10 B) 11 C) 12 D) 13 <div style=padding-top: 35px>
Using your equation from question 29, what is the expected demand for Ph.D. students if you have $200,000 available in HR costs? Round to nearest whole number.

A) 10
B) 11
C) 12
D) 13
Question
In a simple regression equation, there is an assumption of linearity between the independent and dependent variables.
Question
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.
Question
The Delphi technique is a quantitative method for deriving detailed assumptions of long-run HR demand.
Question
Unlike trend analysis, impact analysis relies on subjective, but expert, judgements.
Question
According to the textbook, typical estimates for scenario forecasting are organized into optimistic, realistic, and pessimistic scenarios.
Question
The last stage in the nominal group technique is a secret vote that determines the highest ranking for the group's HR demand solution.
Question
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.
Question
What are some the advantages and disadvantages of the Delphi Technique, where experts do NOT meet face-to-face?
Question
The first step in the nominal group technique is to select the experts.
Question
HR budgets are a qualitative method of HR demand forecasting that estimates the number and types of personnel required by the organization.
Question
What is envelope/scenario forecasting? Describe some of its features.
Question
Describe trend analysis and outline the steps involved in conducting this forecasting method. What are the most common operational indices used by organizations?
Question
If there are several dependent variables, then the regression is referred to as multivariate regression analysis.
Question
Perceived status differences may influence how experts express their views when forecasting in face-to-face groups.
Question
A deficiency of the Delphi technique is that the results cannot be verified statistically.
Question
Describe how HR Budgets and Staffing tables are applied in HR demand forecasting.
Question
In the simple regression prediction model, X represents the independent variable.
Question
Regression analysis is a very effective quantitative forecasting technique for all time horizons.
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Deck 6: Determining HR Demand
1
According to the textbook, what is one disadvantage of the Delphi technique?

A) Groupthink
B) Shyness
C) time and costs
D) Communication
C
2
What stage in the nominal group technique would typically ask a question like, "What will ABC Corporation's demand for production workers be in the year 2015?"

A) select the experts
B) meet face to face
C) define the question
D) discuss demand estimates
C
3
According to the textbook, what method of estimating HR demand was used in Ireland?

A) trend analysis
B) ratio analysis
C) cohort analysis
D) impact analysis
C
4
What is the most common operational index used by organizations in a trend analysis?

A) sales level
B) units produced
C) clients served
D) production hours
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
5
If you want to determine the total HR demand requirement for operational or short-run time periods, what type of information should you gather?

A) staffing table
B) HR budget
C) impact analysis
D) envelope/scenario forecasts
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
6
In a simple regression prediction model, what does B represent?

A) dependent variable
B) constant or intercept
C) slope of the linear relationship between X and Y
D) independent variable
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
7
According to the textbook, when the Delphi technique was used to identify competencies for research chef, which of the following was NOT a topic for consideration?

A) factors that differentiate successful from unsuccessful research chefs
B) years of experience for successful and unsuccessful research chefs
C) skills and knowledge needed to be a successful research chef
D) tasks that differentiate a successful research chef from an ordinary chef
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
8
Which of the following is NOT typically considered to be an expert for HR forecasting?

A) union staff members
B) line employees
C) university researchers
D) business consultants
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
9
Which of the following demand forecasting methods is NOT a quantitative method?

A) trend analysis
B) Delphi technique
C) regression analysis
D) staffing table
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
10
Typically, how is most of the expert information gathered using the Delphi technique?

A) Interviews
B) discussion groups
C) Teleconferencing
D) Questionnaires
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
11
If HR specialists use multiple predictor estimates of the future demand for personnel based on a variety of differing assumptions about how future events will unfold, what type of forecasting technique or analysis are they using?

A) Delphi technique
B) nominal technique
C) impact analysis
D) scenario forecast
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
12
Why are assumptions necessary when implementing the steps of the nominal group technique?

A) to minimize the chance that expert estimates will be misinterpreted
B) to make sure that the group is not dominated by one expert estimate
C) to eliminate the necessity for experts to defend their estimates
D) to ensure the validity and confidentiality of the expert estimates
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
13
Which of the following is NOT considered a benefit of the nominal group technique?

A) supports brainstorming
B) lower costs and time
C) equal participation
D) reliable and valid
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
14
In the Delphi technique, why does the project coordinator continue to issue questionnaires to the experts?

A) Current information has not been optimal and so further information is required.
B) Additional information still needs to be gathered regarding the predetermined questions.
C) Information gathered to date has not lea the group to make a consensual decision.
D) Current information is insufficient in some way that is required to make future supply estimates.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
15
In the Delphi technique, why do the experts not meet face-to-face?

A) They do not have the time.
B) They want to lower costs.
C) They worry about groupthink.
D) They lack communication expertise.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
16
What type of analysis reveals the historical relationship between the operational index and the demand for labour?

A) correlation
B) multivariate
C) trend
D) regression
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
17
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?

A) Delphi technique
B) critical incident technique
C) repatriation technique
D) nominal group technique
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
18
Which forecasting technique provides a long-run qualitative forecast where experts meet and give their assessments about the future?

A) Delphi technique
B) critical incident technique
C) repatriation technique
D) nominal group technique
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
19
What federal government agency provides expert information for labour demand forecasting?

A) National Occupational Classification
B) Citizenship and Immigration Canada
C) Conference Board of Canada
D) Statistics Canada
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
20
How do the experts finally agree on a solution in the nominal group technique?

A) by defending their perspectives
B) by voting for the best estimate
C) by lobbying the other group members
D) by ranking the solutions with a secret vote
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
21
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the slope of the line?</strong> A)9.87 B)11.32 C)13.47 D)16.03
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the slope of the line?</strong> A)9.87 B)11.32 C)13.47 D)16.03
What is the value for the slope of the line?

A)9.87
B)11.32
C)13.47
D)16.03
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
22
In the Delphi method experts do not meet, but they do in the nominal group technique.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
23
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the sum of XY?</strong> A) 3794 B) 4903 C) 5245 D) 6182
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the sum of XY?</strong> A) 3794 B) 4903 C) 5245 D) 6182
What is the value for the sum of XY?

A) 3794
B) 4903
C) 5245
D) 6182
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
24
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     What are the values for average X and average Y?</strong> A)3.6 and 68.5 B)3.9 and 109.2 C)4.3 and 124.9 D)4.7 and 82.8
<strong>Use the following information to answer questions 24-30 that follow.     What are the values for average X and average Y?</strong> A)3.6 and 68.5 B)3.9 and 109.2 C)4.3 and 124.9 D)4.7 and 82.8
What are the values for average X and average Y?

A)3.6 and 68.5
B)3.9 and 109.2
C)4.3 and 124.9
D)4.7 and 82.8
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
25
A regression analysis is a linear equation between a single causal variable and multiple dependent variables.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
26
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     What is the regression prediction equation?</strong> A) Y = 65.05 + 11.32X B) Y = 68.25 + 13.47X C) Y = 70.99 + 16.03X D) Y = 73.41 + 9.87X
<strong>Use the following information to answer questions 24-30 that follow.     What is the regression prediction equation?</strong> A) Y = 65.05 + 11.32X B) Y = 68.25 + 13.47X C) Y = 70.99 + 16.03X D) Y = 73.41 + 9.87X
What is the regression prediction equation?

A) Y = 65.05 + 11.32X
B) Y = 68.25 + 13.47X
C) Y = 70.99 + 16.03X
D) Y = 73.41 + 9.87X
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
27
In a trend analysis, it is necessary to extrapolate data related to historical changes.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
28
A staffing table forecasts the total HR demand required for operational or short-run time periods.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
29
There are six steps associated with the Delphi technique for HR demand forecasting. What is the first step?

A) identify the experts, terms and time horizon
B) issue the first-round of questionnaires
C) select the experts
D) define and refine the issue or question
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
30
What do you call the observed relationship between the independent and dependent variables?

A) causal
B) direct
C) linear
D) indirect
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
31
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the sum of X²?</strong> A) 189 B) 199 C) 209 D) 219
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the sum of X²?</strong> A) 189 B) 199 C) 209 D) 219
What is the value for the sum of X²?

A) 189
B) 199
C) 209
D) 219
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
32
In an impact analysis, current trends are analyzed by a panel of experts to predict future HR demand.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
33
A ratio analysis is a quantitative method of projecting HR demand by analyzing the relationship between an operational index and the number of employees required.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
34
Another name for the scenario forecast method is the projection forecast method.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
35
Trend analyses are complex, since they require the analysis of multiple variables.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
36
According to the article entitled "Projecting Labour Demand in Canada," management occupations will feel the most intense pressure from immigration.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
37
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the y intercept?</strong> A)65.05 B)68.25 C)70.99 D)73.41
<strong>Use the following information to answer questions 24-30 that follow.     What is the value for the y intercept?</strong> A)65.05 B)68.25 C)70.99 D)73.41
What is the value for the y intercept?

A)65.05
B)68.25
C)70.99
D)73.41
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
38
What is another name for the dependent variable in the simple regression prediction model?

A) causal variable
B) target variable
C) linear variable
D) random variable
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
39
In a simple regression Y is the independent variable.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
40
Use the following information to answer questions 24-30 that follow.
<strong>Use the following information to answer questions 24-30 that follow.     Using your equation from question 29, what is the expected demand for Ph.D. students if you have $200,000 available in HR costs? Round to nearest whole number.</strong> A) 10 B) 11 C) 12 D) 13
<strong>Use the following information to answer questions 24-30 that follow.     Using your equation from question 29, what is the expected demand for Ph.D. students if you have $200,000 available in HR costs? Round to nearest whole number.</strong> A) 10 B) 11 C) 12 D) 13
Using your equation from question 29, what is the expected demand for Ph.D. students if you have $200,000 available in HR costs? Round to nearest whole number.

A) 10
B) 11
C) 12
D) 13
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
41
In a simple regression equation, there is an assumption of linearity between the independent and dependent variables.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
42
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.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
43
The Delphi technique is a quantitative method for deriving detailed assumptions of long-run HR demand.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
44
Unlike trend analysis, impact analysis relies on subjective, but expert, judgements.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
45
According to the textbook, typical estimates for scenario forecasting are organized into optimistic, realistic, and pessimistic scenarios.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
46
The last stage in the nominal group technique is a secret vote that determines the highest ranking for the group's HR demand solution.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
47
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.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
48
What are some the advantages and disadvantages of the Delphi Technique, where experts do NOT meet face-to-face?
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k this deck
49
The first step in the nominal group technique is to select the experts.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
50
HR budgets are a qualitative method of HR demand forecasting that estimates the number and types of personnel required by the organization.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
51
What is envelope/scenario forecasting? Describe some of its features.
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
52
Describe trend analysis and outline the steps involved in conducting this forecasting method. What are the most common operational indices used by organizations?
Unlock Deck
Unlock for access to all 58 flashcards in this deck.
Unlock Deck
k this deck
53
If there are several dependent variables, then the regression is referred to as multivariate regression analysis.
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54
Perceived status differences may influence how experts express their views when forecasting in face-to-face groups.
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55
A deficiency of the Delphi technique is that the results cannot be verified statistically.
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56
Describe how HR Budgets and Staffing tables are applied in HR demand forecasting.
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57
In the simple regression prediction model, X represents the independent variable.
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58
Regression analysis is a very effective quantitative forecasting technique for all time horizons.
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