QuestionMay 29, 2025

Select true statements about forecasting. [mark all correct answers] a. Forecasting uses data to predict future events. b. Forecasting is not useful for brand new businesses because they have no historical data. c. Forecasting is useful for budgeting. d. Forecasting helps companies prepare for the predicted business environment.

Select true statements about forecasting. [mark all correct answers] a. Forecasting uses data to predict future events. b. Forecasting is not useful for brand new businesses because they have no historical data. c. Forecasting is useful for budgeting. d. Forecasting helps companies prepare for the predicted business environment.
Select true statements about forecasting. [mark all correct answers] a. Forecasting uses data to predict future events. b. Forecasting is not useful for brand new businesses because they have no historical data. c. Forecasting is useful for budgeting. d. Forecasting helps companies prepare for the predicted business environment.

Solution
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Answer

a. Forecasting uses data to predict future events. ### c. Forecasting is useful for budgeting. ### d. Forecasting helps companies prepare for the predicted business environment. Explanation 1. Analyze statement a Forecasting indeed uses data to predict future events. This is a fundamental aspect of forecasting. 2. Analyze statement b While historical data is beneficial, forecasting can still be useful for new businesses by using market research and industry trends. 3. Analyze statement c Forecasting is useful for budgeting as it helps estimate future revenues and expenses. 4. Analyze statement d Forecasting helps companies prepare for the predicted business environment by anticipating changes and planning accordingly.

Explanation

1. Analyze statement a<br /> Forecasting indeed uses data to predict future events. This is a fundamental aspect of forecasting.<br />2. Analyze statement b<br /> While historical data is beneficial, forecasting can still be useful for new businesses by using market research and industry trends.<br />3. Analyze statement c<br /> Forecasting is useful for budgeting as it helps estimate future revenues and expenses.<br />4. Analyze statement d<br /> Forecasting helps companies prepare for the predicted business environment by anticipating changes and planning accordingly.
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