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sergiy2304 [10]
3 years ago
6

The basic laws of forecasting help to avoid misapplication or misrepresentation of forecast results. Law 3 states, __________. M

any businesses have found that it is easier and more accurate to
A. forecast for groups of products or services than it is to forecast for specific ones.
B. forecasts for the near term tend to be more accurate.
C. forecasts for groups of products or services tend to be more accurate.
D. forecasts are almost always wrong Unselected forecasts are no substitute for calculated values.
Business
1 answer:
pav-90 [236]3 years ago
3 0

Answer:

C.

Explanation:

A forecast is an estimate of the future level of some variable.

It is important to forecast because:

-Asses long-term capacity needs

-Develop budgets, hiring plans

-Plan production or order materials

There are types of forecast

Demand, depend on the firm level or the market level.

Supply, depend on number of current producers and suppliers, projected aggregate supply levels, and technological and political trends.

Price, depend on cost of supplies and services, market price for firm´s product or service.

There are 4 laws of forecasting, that help to avoid misapplication or misrepresentation of forecast results:

1-Forecast are almost always wrong by some amount (but they are still useful). Even under the best of conditions, no forecasting approach can predict the exact level of future demand, supply, or price.

2-Forecast for the near term tend to be more accurate. This law recognizes that in the near term, the factors that affect the forecast variable are not likely to change greatly.

3-Forecast for group of products or services tend to be more accurate. Many businesses have found that it is easier and more accurate to forecast for groups of products or services than it is to forecast for specific ones.

4-Forecast are no substitute for calculated values.

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Below is the simple process model. What development activity would you choose to add first to this process and why?
Ganezh [65]

In the given Simple Model, I would like to add Requirements Gathering and Analysis after the Problem Statement. Because we know the problem description and we need to derive the requirements using the given data.

<h3><u>What exactly does "process modeling" mean?</u></h3>

Business processes or workflows are represented graphically in process modeling. Similar to a flow chart, each stage of the process is broken down so that a complete picture of the tasks involved in it within the context of the business environment is available.

A process model enables business processes to be visualized, helping firms better understand their internal business processes and manage and improve them. This is typically a flexible exercise for ongoing development.

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<u>What advantages does process modeling have?</u>

Business processes are given a visual representation through the process modeling method, making it easier for users to analyze them and determine how they might be improved. Process modeling also has additional advantages, such as:

  • Increased effectiveness
  • Gain transparency
  • Ensure best practices
  • Develop comprehension
  • Business orchestration.

Learn more about business with the help of the given link:

brainly.com/question/11357749

#SPJ4

5 0
2 years ago
This style of leadership may stunt the development of employees and ties the organization’s success to its leader.
antiseptic1488 [7]

Answer:

Autocratic

Explanation:

In autocratic leadership, the manager or leader makes all decisions on behalf of the company or group. The leader does not seek or consider the inputs of others when making decisions. The autocratic leadership style is the same as the dictatorship style.

An autocratic leader issues orders or commands which the subordinates are expected to follow to the latter. When the organization archives success, all the credit goes to the leader.

8 0
3 years ago
MasterCom Corporation corporation produces a semiconductor chip used on communications. the direct materials are added at hte st
Mariana [72]

Answer:

a. The equivalent units of work done in​ June=   450,000

b. The total manufacturing cost per chip= $ 12.199= $ 12.2

Explanation:

a. The equivalent units of work done in​ June

Units Started                                                                  475,000

Units Completed                                                             425,000

Units still in Process completed 50% =  (50,000 * 50%) 25,000

The equivalent units of work done in​ June  =        450,000

b. The total manufacturing cost per chip

Direct material cost                 $935,750

Conversion costs                 $4,554,000

The total manufacturing     $ 5489750

The total manufacturing cost per chip =   $ 5489750/450,000

  The total manufacturing cost per chip       = $ 12.199= $ 12.2

3 0
3 years ago
Killian has designed a new board game for kids. His company is now figuring out who the target market is going to be and where t
VashaNatasha [74]

The correct answer is product development.

In the product development stage the company will work on things like the positioning and marketing of the new board game. Their goal is to create a need for the game and make people want to buy it.

7 0
3 years ago
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hour
Anastasy [175]

Answer:

Total direct material cost= $400,000

Explanation:

Giving the following information:

Direct material: 5 pounds at $8.00 per pound $ 40.00

Total direct material cost= cost per unit* total units.

Suppouse that the production for the period is 10,000 units:

Total direct material cost= (5*8)*10,000= $400,000

3 0
3 years ago
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