Predictions of the actual volume that is expected in a future time period can best be expressed as: A) econometrics. B) regression. C) sales potential. D) forecasting. E) none of the above.

Question

Quizplus · Accepted Answer

Volume predictions are usually made through forecasting methods. Econometrics involves statistical methods for analyzing economic data, while regression is a statistical tool used to determine the relationship between variables. Sales potential is more focused on estimating the maximum possible sales in a given market, rather than predicting actual sales volume. Therefore, forecasting is the most appropriate choice to express expected actual volume in a future time period.

Predictions of the Actual Volume That Is Expected in a Future