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What is the primary assumption behind the experience approach to forecasting?
The experience act to forecasting is based on the assumption that things will happen a certain way in the future for the reason that they happened that way in the past. For illustration, if it has forever taken you fifteen minutes to drive to the grocery store, then you will probably suppose that it will take you about fifteen minutes the next time you drive to the store. Likewise, financial managers often presume expenses, sales, or earnings will grow at certain rates in the future because they grew at that rate in the past.
An average should be: (a) vigorously defined, (b) easy to compute, (c) capable of simple interpretation, (d) dependent on all the observed values, (e) not unduly influenced by one
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Discuss the criteria for a ‘good’ international monetary system. Answer: A good international monetary system must offer (i) sufficient liquidity to the world economy, (ii)
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