Anthony is a company's HR Manager and he is helping the production department determine seasonal employment needs.Anthony tracks multiple variables and determines the line of best fit in order to predict future employment levels.Which forecasting method is Anthony using?

Question

Quizplus · Accepted Answer

Anthony is using regression analysis, which involves tracking multiple variables and determining the line of best fit in order to predict future levels. A scatter plot is a tool used to visualize the relationship between two variables, but it does not involve determining the line of best fit. Computerized forecast is a general term used to describe any forecasting method that uses computer technology, but it does not provide information about the specific method used. Trend analysis involves analyzing past data trends to make predictions about future trends, but it does not involve determining the line of best fit. Ratio analysis involves analyzing financial ratios to make predictions about a company's financial performance, but it is not relevant to employment forecasting.

Anthony Is a Company's HR Manager and He Is Helping