A statistical technique involving the use of a mathematical formula to project future demands, based on an established relationship between an organization's employment level and some measurable factor of output, is known as
A)regression analysis.
B)a scatterplot.
C)a computerized forecast.
D)trend analysis.
E)ratio analysis.

Question

Quizplus · Accepted Answer

Regression analysis is a statistical technique that involves the use of a mathematical formula to project future demands based on an established relationship between an organization's employment level and some measurable factor of output. It helps to understand the relationship between two or more variables and is useful to identify the factors that are driving the demand. A scatterplot is a graph used to analyze the relationship between two variables, but it does not involve any mathematical formula. A computerized forecast is a method of predicting future trends using computer software, but it does not necessarily involve an established relationship between an organization's employment level and some measurable factor of output. Trend analysis involves examining data over time to identify any patterns or trends in the data, but it also does not necessarily involve an established relationship between an organization's employment level and some measurable factor of output. Ratio analysis involves evaluating an organization's financial performance by comparing the relationship between two or more financial variables, but it is not relevant to projecting future demands based on an established relationship between an organization's employment level and some measurable factor of output.

A Statistical Technique Involving the Use of a Mathematical Formula