Crescent-Puritan Laundry and Dry Cleaning uses last year's sales as a starting point to estimate next year's sales and then looks at positive and negative influences that may affect sales. This is an example of:
A)linear trend extrapolation.
B)a lost-horse forecast.
C)statistical inference.
D)experimental estimation.

Question

Quizplus · Accepted Answer

A lost-horse forecast starts with a known value (in this case, last year's sales) and then adjusts for factors expected to increase or decrease the future value (positive and negative influences on sales). This method does not rely solely on statistical or mathematical models but incorporates adjustments based on expected changes, making it distinct from options A, C, and D.

Crescent-Puritan Laundry and Dry Cleaning Uses Last Year's Sales as a Starting