For a medium-sized Canadian furniture manufacturing company the demand for recliner chairs is fairly stable,because the market for recliner chairs is fairly stable.Since there exists a comparatively high degree of certainty in the market,which of the following forecasting models would be an effective model for assessing the demand for labour for this company?

Question

Quizplus · Accepted Answer

Since the demand for recliner chairs is fairly stable, a simple model based on an existing forecast would be the most effective for assessing the demand for labor. This is because it utilizes historical data to make predictions, which is appropriate for a stable market. The other options (A, C, and D) involve more complex modeling techniques that may not be necessary in this situation.

For a Medium-Sized Canadian Furniture Manufacturing Company the Demand for Recliner