What does the range in a data set represent?
Understanding Sales Forecasting

Quiz
•
Business
•
12th Grade
•
Medium
Paula Young
Used 4+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The range represents the difference between the maximum and minimum values in a data set.
The range shows the most frequently occurring value in a data set.
The range indicates the average value of a data set.
The range is the total number of values in a data set.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is sales forecasting defined?
Sales forecasting is the estimation of future sales revenue.
Sales forecasting is the prediction of customer satisfaction.
Sales forecasting is the calculation of production costs.
Sales forecasting is the analysis of past sales data only.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are mode, range, and standard deviation used for?
Standard deviation measures the total number of data points
Range calculates the average of all values
Mode is used to find the most common value, range shows the spread of data, and standard deviation assesses data variability.
Mode indicates the highest value in a dataset
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is time series analysis in sales forecasting?
Time series analysis is a statistical method used to forecast future sales by analyzing historical sales data over time.
Time series analysis focuses on product pricing strategies.
Time series analysis is used to evaluate employee performance.
Time series analysis is a method to analyze customer demographics.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is long-term sales forecasting considered less reliable?
Short-term forecasts are more uncertain.
Long-term forecasts are based on fixed trends.
Increased uncertainty over time.
Sales data is always accurate.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do cyclical variations differ from seasonal fluctuations?
Cyclical variations are caused by weather changes, while seasonal fluctuations are linked to economic trends.
Cyclical variations are always predictable, while seasonal fluctuations are not.
Cyclical variations differ from seasonal fluctuations in duration and cause; cyclical variations are long-term and linked to economic cycles, whereas seasonal fluctuations are short-term and tied to specific seasons.
Seasonal fluctuations occur over several years, whereas cyclical variations happen within a single year.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the median value in a data set indicate?
The median indicates the range of values in a data set.
The median represents the highest value in a data set.
The median is the average of all values in a data set.
The median indicates the middle value of a data set.
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