Mark is developing a market forecast. After reviewing years of sales, he noticed there seems to be a clear association between past sales and households with children. The more families with children locate to the area, the more sales seem to increase. Mark believes he can use this relationship and the information he has on households in the area to predict future sales. This is an example of what type of forecasting method?
A)Delphi technique
B)Executive judgment
C)Time series analysis
D)Regression analysis
E)Market test

Question

Quizplus · Accepted Answer

Mark is using regression analysis to predict future sales by using the relationship between past sales and households with children. Regression analysis is a statistical method used to identify and analyze the relationship between one dependent variable and one or more independent variables.

Mark Is Developing a Market Forecast