Question

All of the following are categories of common forecasting techniques for business except

a) surveys.
b) time series analysis.
c) customer determined.
d) executive judgment.
e) market tests.

Answer 1

The category 'customer determined' is not a common forecasting technique for businesses, with surveys, time series analysis, executive judgment, and market tests being the recognized methods.

Step-by-step explanation:

The student's question pertains to forecasting techniques for business, seeking to identify which option listed is not a common forecasting technique. Among the given options, the correct answer is customer determined. The common categories of forecasting techniques typically include surveys, time series analysis, executive judgment, and market tests.

Surveys involve collecting data from a sample group to gain insights into consumer behavior or market trends. Time series analysis is a statistical technique used to predict future events based on past data. Executive judgment relies on the experience and intuition of business leaders to forecast trends, while market tests involve testing a product or service in a particular market to determine customer response and potential success.