Business Forecasting Quiz

What is the importance of business forecasting?

• It helps in planning and creating business opportunities.

• It is only useful for large companies.

• It has no impact on investment opportunities.

• It is based solely on intuition.

What are the limitations of business forecasting?

• It cannot predict future trends.

• It is always accurate.

• It relies on historical data.

• It is only applicable to certain industries.

What are the types of forecasting based on time frame?

• Short-term, medium-term, long-term

• Daily, weekly, monthly

• Immediate, future, past

• None of the above

What is short-term forecasting used for?

• Planning purchases and scheduling work.

• Long-term investment strategies.

• Analyzing market trends over decades.

• None of the above.

What is the difference between micro and macro forecasting?

• Micro forecasting focuses on individual companies, while macro forecasting looks at the economy as a whole.

• Micro forecasting is less accurate than macro forecasting.

• There is no difference.

• Micro forecasting is only for small businesses.

What are the two main methods of forecasting?

• Quantitative and qualitative methods.

• Mathematical and statistical methods.

• Descriptive and analytical methods.

• None of the above.

What is a time series model?

• A method used to analyze data over time.

• A model that predicts future events based on random guesses.

• A method that only works for short-term forecasting.

• None of the above.

What is exponential smoothing?

• A technique that gives more weight to recent data.

• A method that ignores past data.

• A way to predict future events without data.

• None of the above.

What is trend projection in forecasting?

What are causal/explanatory models in forecasting?