A ski resort uses forecasts to plan staff schedules. It notices gradual increases and decreases in customer volume over several years depending on economic conditions. This pattern is best described as:

Question

BlackTom AI · Accepted Answer

The scenario describes fluctuations in customer volume that span multiple years and align with broader economic conditions rather than occurring within a single year or in a random pattern.
Option: Random — This would imply irregular, unpredictable changes without a discernible pattern, which does not fit the described gradual, economy-linked variation over years.
Option: Seasonal — Seasonal patterns repeat within a single year (e.g., yearly winter highs and spring lows). The description specifies changes over several years, not within one year, so this is not the best fit.
Option: Trend — A trend refers to the long-term direction (upward or downward) of a variable over time. While the data may show a long-term increase or decrease, the emphasis here is on cyclical fluctuations tied to economic conditions, not solely a persistent rise or fall.
Option: Cyclical — Cyclical patterns are fluctuations that occur over multi-year periods, often linked to economic cycles, which matches the described gradual increases and decreases over several years influenced by economic conditions.
Thus, the most fitting description is Cyclical.

MGS3100W10 25 Fall OM Exam 2- Requires Respondus LockDown Browser

A ski resort uses forecasts to plan staff schedules. It notices gradual increases and decreases in customer volume over several years depending on economic conditions. This pattern is best described as:

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MGS*3100*W10 25 Fall OM Exam 2- Requires Respondus LockDown Browser

A ski resort uses forecasts to plan staff schedules. It notices gradual increases and decreases in customer volume over several years depending on economic conditions. This pattern is best described as:

View Explanation

Log in for full answers

Similar Questions

Give the single best correct answer.In time series for predicting seasonal data,[Fill in the blank]

The figure below shows which time series pattern?

A forecasting model where actual occurrences follow an identifiable pattern over time is known as the ________ model:

Time series data requires the order of data points to be preserved.

More Practical Tools for Students Powered by AI Study Helper

Making Your Study Simpler

MGS3100W10 25 Fall OM Exam 2- Requires Respondus LockDown Browser