A coal extracting company is worried about the depleting coal reserves in various parts of the world. It wants to make future projections for reserve sizes and depletion rates that are useful in the planning process. Which of the following quantitative approaches should the company apply?
A) Inventory analysis
B) Mathematical forecasting
C) Queuing theory
D) Linear programming
E) Network models

Question

Quizplus · Accepted Answer

Mathematical forecasting is the best quantitative approach for the coal extracting company to project future reserve sizes and depletion rates. It involves the use of complex mathematical models and statistical techniques to analyze historical data and make predictions about future trends. This would provide the company with reliable and accurate information for planning their operations and making strategic decisions. The other options listed are not relevant to the specific problem of forecasting coal reserve sizes and depletion rates.

A Coal Extracting Company Is Worried About the Depleting Coal