Certified Supply Chain Professional (CSCP) Practice Exam

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Prepare for the Certified Supply Chain Professional Exam with a comprehensive quiz featuring multiple choice questions and essential study material. Gain the knowledge and confidence needed to excel in your certification journey!

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Practice this question and more.

Which statement best describes a dependent variable in forecasting?

It is the variable that affects the predictor
It is the variable being studied or measured
It is the factor that remains constant
It is unrelated to any external factors

The correct answer is: It is the variable being studied or measured

The description of a dependent variable in forecasting is best captured by stating that it is the variable being studied or measured. In the context of forecasting, the dependent variable represents the outcome that researchers or analysts aim to predict based on various independent factors or predictors. For example, in sales forecasting, the dependent variable could be the sales revenue, which is influenced by other factors such as pricing, marketing efforts, and seasonality. Understanding this relationship is crucial in forecasting because it helps analysts determine how changes in the independent variables can impact the dependent variable, thereby enabling better predictions and decision-making. The ability to accurately identify and assess the dependent variable is fundamental for effective analysis in supply chain management and other fields.