__________ involves starting with the last known value of the item being forecast,listing the factors that could affect the forecast,assessing whether they have a positive or negative impact,and making the final forecast.

Question

Quizplus · Accepted Answer

The described method is known as a lost-horse forecast, which involves using the last known value and assessing the impact of various factors to make the final forecast. Direct forecast involves using historical data to make predictions, indirect forecast involves using related variables to make predictions, and incremental forecast involves making small adjustments to a previous forecast. Lost-cause forecast is not a recognized forecasting method.

__________ Involves Starting with the Last Known Value of the Item