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Which of the following is not a step in the forecasting process?

Which of the following is not a step in the forecasting process?

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Answer #1

Eliminate any assumptions is not a step in the forecasting process. The six steps in the forecasting process are:

  • Determine the purpose of the forecast
  • Establish a time horizon
  • Gather and analyze data (the relevant)
  • Select a forecasting technique (based on the available data)
  • Prepare the forecast
  • Monitor the forecast
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