BUSN 278 Midterm Exam Answers
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(TCO 1) Which of the following statements regarding research and development is incorrect?
(TCO 2) Priority budgeting that ranks activities is known as:
(TCO 3) The regression statistic that measures how many standard errors the coefficient is from zero is the ________________
(TCO 4) It is important that budgets be accepted by:
(TCO 5) The qualitative forecasting method that individually questions a panel of experts is ________________
(TCO 6) Which of the following is a disadvantage of the payback technique?
(TCO 1) There are several approaches that may be used to develop the budget. Managers typically prefer an approach known as participative budgeting. Discuss this form of budgeting and identify its advantages and disadvantages.
(TCO 2) There are a variety of forecasting techniques that a company may use. Identify and discuss the three main quantitative approaches used for time series forecasting models.
(TCO 2) Use the table “Manufacturing Capacity Utilization” to answer the questions below.
Manufacturing Capacity Utilization
Day Utilization Day Utilization
1 82.5 9 78.8
2 81.3 10 78.7
3 81.3 11 78.4
4 79.0 12 80.0
5 76.6 13 80.7
6 78.0 14 80.7