A forecasting method that predicts sales based on relationships between past sales and other variables is called
A) regression analysis.
B) customer forecasting surveys.
C) the Delphi technique.
D) random factor analysis.
E) time series analysis.

Question

Quizplus · Accepted Answer

Regression analysis is a methodology used to find the relationship between a dependent variable (in this case, sales) and one or more independent variables (such as advertising expenditures, price, etc.). By finding the equation that best fits the data, forecasters can use past data to predict future sales. The other options listed are not specifically focused on past sales data and relationships with other variables.

A Forecasting Method That Predicts Sales Based on Relationships Between