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NEW QUESTION: 1
Which of the following methods of quantitative analysis would be most effective for an organization with data that is out of date?
A. Trend analysis
B. Weighted average
C. Simple linear regression
Answer option B is correct.
Measures of central tendency such as mean average, moving average, and weighted average are useful when an organization must include outdated information in its analysis. Typically, more weight is assigned to the more current data; or, as new data is added, older criteria are dropped. This allows for a more accurate reflection of the current condition. A trend analysis (A) compares the movement of a single variable over time, for example, the hiring rate from a single recruiting source. Simple linear regression (C) measures the relationship between two variables, such as how many units employees can produce. All techniques can be used for planning and forecasting purposes.
Chapter: Core Knowledge Requirements for HR Professionals
Objective: Review Questions
NEW QUESTION: 2
Cost estimating includes all of the following except:
A. Developing an assessment of the likely quantitative result
B. Identifying and considering various costing alternatives
D. Pricing strategy