Tourism is the backbone of the economy of Nirvana. The industry is given top priority by the government that recognizes the high stakes involved. Given only data on annual arrivals of tourists to Nirvana, which method of projecting future demand should be recommended?

Question

Quizplus · Accepted Answer

Trend analysis is the best method to project future demand based on the given data on annual arrivals of tourists. As tourism is the backbone of the economy of Nirvana and given the high stakes involved, trend analysis can be cost-effective and provide valuable insights into the future demand for tourism in Nirvana. Multiple regression, simple regression, and computer simulation may require larger research budgets and may not be necessary for this specific scenario.

Tourism Is the Backbone of the Economy of Nirvana