D351 - Section 2: Forecasting, Planning, Recruitment, and Selection
Questions and Answers with Verified Solutions | Latest 2026 Update
Q: for human resources?
Answer:
Judgemental and statistical
Q: What are the six statistical forecasting methods?
Answer:
simple linear regression (increased sales mean we will need to have more CSR),
multiple linear regression (mulitple factors instead of just one. sales increase which
increases are need for CSR, computing space for new clients) productivity ratio (
historical data are used to examine the past level of a productivity index), HR ratio
(past HR data are examined to determine historical relationships among employees in
various jobs or job categories), time series analysis (Past staffing levels are examined
in order to isolate seasonal and cyclical variations, long-term trends, and random
movements.), stochastic ratios (the likelihood of landing a series of contracts is
combined with the HR requirements for each contract, in order to estimate expected
staffing requirements.)
, D351 - Section 2: Forecasting, Planning, Recruitment, and Selection
Questions and Answers with Verified Solutions | Latest 2026 Update
Q: What are the three judgmental forecasting methods?
Answer:
Managerial estimates (in financial institutions like banks, a bottom-up approach is
often used, where each branch passes its estimates to the head office.) delphi
technique (large number of experts take turns presenting a forecast statement and
assumptions. An intermediary passes each expert's forecast and assumptions to the
others, who then make revisions to their own forecasts) Nominal grouping technique
(several people sit around a conference table and independently list their ideas on a
sheet of paper. After ten to twenty minutes, they take turns expressing their ideas to
the group. As these ideas are presented, they are recorded on larger sheets of paper so
that everyone can see all the ideas and refer to them in later parts of the session.)
Q: List an example of a variable.
Answer:
What can change, if we sell X number of contracts how many
employees will we need
Questions and Answers with Verified Solutions | Latest 2026 Update
Q: for human resources?
Answer:
Judgemental and statistical
Q: What are the six statistical forecasting methods?
Answer:
simple linear regression (increased sales mean we will need to have more CSR),
multiple linear regression (mulitple factors instead of just one. sales increase which
increases are need for CSR, computing space for new clients) productivity ratio (
historical data are used to examine the past level of a productivity index), HR ratio
(past HR data are examined to determine historical relationships among employees in
various jobs or job categories), time series analysis (Past staffing levels are examined
in order to isolate seasonal and cyclical variations, long-term trends, and random
movements.), stochastic ratios (the likelihood of landing a series of contracts is
combined with the HR requirements for each contract, in order to estimate expected
staffing requirements.)
, D351 - Section 2: Forecasting, Planning, Recruitment, and Selection
Questions and Answers with Verified Solutions | Latest 2026 Update
Q: What are the three judgmental forecasting methods?
Answer:
Managerial estimates (in financial institutions like banks, a bottom-up approach is
often used, where each branch passes its estimates to the head office.) delphi
technique (large number of experts take turns presenting a forecast statement and
assumptions. An intermediary passes each expert's forecast and assumptions to the
others, who then make revisions to their own forecasts) Nominal grouping technique
(several people sit around a conference table and independently list their ideas on a
sheet of paper. After ten to twenty minutes, they take turns expressing their ideas to
the group. As these ideas are presented, they are recorded on larger sheets of paper so
that everyone can see all the ideas and refer to them in later parts of the session.)
Q: List an example of a variable.
Answer:
What can change, if we sell X number of contracts how many
employees will we need
