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Which one of the following statements best explains forecasting? Options: A. The less removed the forecast period is from the date the forecast is made, the greater the difficulty in making the forecast and the greater the risk that the actual results will differ from the forecast. B. Forecasting eliminates the uncertainty of future sales and expenses. C. Forecasting is typically done based on demand for the goods and products (i.e., guest demand to a hotel room). D. Forecasting generally relies on the managerial institution and expertise.

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Demand for the goods and products is often taken into account while forecasting.

What is forecasting's level?

The forecast level serves as a consumption level in addition to defining the bare minimum of detail for which the prediction is defined. The demand class, which also regulates the consumption of forecasts, can be included in the forecast level definition or not.

How can a bad forecast be handled?

This article provides some advice on how to prevent a poor forecast so you don't feel like you're trying to strike a target while wearing blinders.

Make certain that Opportunities are Realistic and Achievable.

Managing Biases; Regularly Reviewing the Long-Term Forecast; Improving Bad Data and Data Input; and Managing Biases.

A Combination of Art and Science Can Improve the Sales Forecast.

To know more about Demand visit:

https://brainly.com/question/29761926

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