HRIR 3021 MIDTERM 2 EXAM ACTUAL QUESTIONS AND
ANSWERS
Which of the following is an advantage of statistical forecasting methods?
Select one:
a. They are particularly useful in dynamic environments.
b. Under the right conditions, they provide predictions that are much more precise than judgmental
methods.
c. They are particularly useful in predicting important events that have no historical precedent.
d. They are invariably better than the "best guesses" of experts.
e. They can be used to reduce dependence on secondary data for making forecasts and predictions. -
CORRECT ANSWER✅✅b. Under the right conditions, they provide predictions that are much more
precise than judgmental methods.
Trend analysis refers to:
Select one:
a. a pooling of the "best guesses," or subjective judgments, of experts to predict labor demand and
supply.
b. the use of subjective judgments to understand relationships among variables during fluctuating and
unstable conditions.
c. a process that accurately predicts labor demand for the next year using leading indicators.
d. a comparison of the proportion of employees in protected groups with the proportion that each
group represents in the relevant labor market.
e. a statistical method of forecasting that uses the proportion of employees in various job categories for
making predictions. - CORRECT ANSWER✅✅c. a process that accurately predicts labor demand for the
next year using leading indicators.
Questions such as "Where did people who were in each job category go?" and "Where did people now
in each job category come from?" can be answered with the help of:
, Select one:
a. propensity analysis.
b. leading indicators.
c. trend analysis.
d. multiple regression.
e. a transitional matrix. - CORRECT ANSWER✅✅e. a transitional matrix.
Planners need to combine statistical forecasts of labor supply with expert judgments because:
Select one:
a. it would motivate the experts in the organization.
b. subjective judgments are always more reliable than historical data.
c. historical data may not always reliably indicate future trends.
d. statistical methods fail to account for historical trends.
e. statistical forecasts work well only in a dynamic environment. - CORRECT ANSWER✅✅c. historical
data may not always reliably indicate future trends.
Which of the following is a fast option that can be used to avoid a labor surplus with only a moderate
amount of suffering caused to the employees?
Select one:
a. Pay reductions
b. Transfers
c. Demotions
d. Early retirement
e. Retraining - CORRECT ANSWER✅✅b. Transfers
Which of the following options for reducing an expected labor surplus has the benefit of being a
relatively fast solution, but has the disadvantage of being high in human suffering?
ANSWERS
Which of the following is an advantage of statistical forecasting methods?
Select one:
a. They are particularly useful in dynamic environments.
b. Under the right conditions, they provide predictions that are much more precise than judgmental
methods.
c. They are particularly useful in predicting important events that have no historical precedent.
d. They are invariably better than the "best guesses" of experts.
e. They can be used to reduce dependence on secondary data for making forecasts and predictions. -
CORRECT ANSWER✅✅b. Under the right conditions, they provide predictions that are much more
precise than judgmental methods.
Trend analysis refers to:
Select one:
a. a pooling of the "best guesses," or subjective judgments, of experts to predict labor demand and
supply.
b. the use of subjective judgments to understand relationships among variables during fluctuating and
unstable conditions.
c. a process that accurately predicts labor demand for the next year using leading indicators.
d. a comparison of the proportion of employees in protected groups with the proportion that each
group represents in the relevant labor market.
e. a statistical method of forecasting that uses the proportion of employees in various job categories for
making predictions. - CORRECT ANSWER✅✅c. a process that accurately predicts labor demand for the
next year using leading indicators.
Questions such as "Where did people who were in each job category go?" and "Where did people now
in each job category come from?" can be answered with the help of:
, Select one:
a. propensity analysis.
b. leading indicators.
c. trend analysis.
d. multiple regression.
e. a transitional matrix. - CORRECT ANSWER✅✅e. a transitional matrix.
Planners need to combine statistical forecasts of labor supply with expert judgments because:
Select one:
a. it would motivate the experts in the organization.
b. subjective judgments are always more reliable than historical data.
c. historical data may not always reliably indicate future trends.
d. statistical methods fail to account for historical trends.
e. statistical forecasts work well only in a dynamic environment. - CORRECT ANSWER✅✅c. historical
data may not always reliably indicate future trends.
Which of the following is a fast option that can be used to avoid a labor surplus with only a moderate
amount of suffering caused to the employees?
Select one:
a. Pay reductions
b. Transfers
c. Demotions
d. Early retirement
e. Retraining - CORRECT ANSWER✅✅b. Transfers
Which of the following options for reducing an expected labor surplus has the benefit of being a
relatively fast solution, but has the disadvantage of being high in human suffering?
