BUSI 405 Forecasting & Predictive Analysis Finals Exam (Qns & Ans) 2026

BUSI 405 Forecasting & Predictive Analysis Finals Exam (Qns & Ans) 2026

1. Which of the following best describes the primary purpose
of forecasting in business?
 - A. To manage daily operations
 - B. To predict future trends and outcomes based on historical
data
 - C. To develop new products
 - D. To conduct market research
 - ANS: B
 - Rationale: The primary purpose of forecasting in
business is to predict future trends and outcomes based on
historical data, helping organizations make informed decisions.
2. What is the primary function of time series analysis in
forecasting?
 - A. To analyze consumer behavior
 - B. To identify patterns and trends in data over time
 - C. To manage inventory
 - D. To develop marketing strategies
 - ANS: B
 - Rationale: Time series analysis is used to identify
patterns and trends in data over time, providing insights for
forecasting future values.