BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Demand Forecasting is based on scientific methods and proper judgment in order to correctly predict the future demand for a product or service.

Detailed explanation-2: -Option (b) Critical path method is not the method of demand forecasting.

Detailed explanation-3: -Forecasts are based on opinions, intuition, guesses, as well as on facts, figures and other relevant data. All of the factors that go into creating a forecast reflect to some extent what happened with the business in the past and what is considered likely to occur in the future.

Detailed explanation-4: -Time Series Analysis It is the most commonly used demand forecasting technique. This method is best suited for businesses with a long sales data history. It ensures that demand patterns are taken into account and can help predict demand for seasonal products.