If historical experience data are so widely available and so easy to obtain, why aren't they more widely used to set labor standards?
What will be an ideal response?
These data are not objective and have unknown levels of accuracy. It is unknown whether they represent a reasonable work pace or not, or whether unusual occurrences are included.
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Novamalt Inc, a manufacturer of health drinks, plans to introduce its new range of health drinks for women into the market. It involves a specialized marketing research firm to forecast the sales of this product
The research firm analyzes past buying behavior of customers and uses time-series analysis for making the sales forecasts. Which of the following information bases is being used by the research firm in this scenario? A) what people say B) what people do C) what people have done D) what people will do E) what people speculate
What is the primary reason an organization issues a press release?
A) Generate media mention of a product or event B) Clarify advertising specifications for agencies C) Motivate employees and stockholders D) Provide historical information about a product E) Counter claims made by competing firms