Why is it usually best to supplement the ratio, scatter plot, and trend forecasting methods with managerial judgment?
A) because judgment forecasting is the most accurate method
B) because historical trends and relationships can change
C) because top-down approaches need analytical validation
D) because firms need to keep their fingers on the pulse of their labor markets
Question 2
New salespeople at a retail store generate an average of 50,000 in profit their first year.
In addition, the reduced workload on the rest of the sales staff improves their efficiency and ability to provide high-quality customer service by 10 percent. This is worth an additional 20,000 to the company. The cost of hiring and training a new salesperson is expected to be 3,000 and 8,000 respectively. The salary for this position is 35,000. What is the return on investment of hiring an additional salesperson?
A) 152
B) 163
C) 200
D) 143
Question 3
________ is a quantitative technique that can be used to analyze a firm's internal labor markets and forecast its internal labor supply.
A) Trend analysis
B) Judgmental forecasting
C) ROI analysis
D) Transition analysis
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