Chris Peterson is a retail sales manager. He is trying to determine a sales forecast for his store, which is part of a national chain. The store Chris manages is the only one in the chain located in the Colorado Springs, Colorado, metro area. The chain's national sales forecast is $45,000,000. The Buying Power Index (BPI) for Colorado Springs is 0.1994. What would be a reasonable sales forecast for Chris' store?
E) Cannot be determined from the information provided.
In the "jury of executive opinion" method of forecasting:
A) the main advantage is that its results are always very good.
B) each executive projects future trends, but does no extending of the past.
C) forecasters develop a combination of factors.
D) the combined opinions of experienced executives are used to reach a consensus.
E) none of these alternatives is correct.
The "jury-of-executive-opinion" approach to sales forecasting combines the opinions of experienced executives from:
E) any or all of these.
The "jury-of-executive-opinion" approach to sales forecasting
A) is less accurate than trend extension.
B) can be done quickly.
C) is effective even if the individual executives aren't very well informed.
D) combines the opinions of experienced executives from marketing and sales, but not purchasing and finance.
E) None of these alternatives is correct.