The Problem of Business Forecasting (Classic Reprint): Papers Presented at the Eighty-Fifth Annual Meeting of the American Statistical Association, Washington, December 27-29, 1923 - Couverture souple

Warren Milton Persons

Couverture souple

ISBN 10 : 1330524217 ISBN 13 : 9781330524213

Editeur : Forgotten Books, 2018

Synopsis

Excerpt from The Problem of Business Forecasting

What is true of human conduct in general is true of conduct in business. When a man enters business, he enters a forecasting profession. He may forecast badly or well, but forecast he must. He may scorn business fore casters, but he cannot help being one. He may Shun sta tistics, but he cannot help using them. Since business is essentially risk-taking with the expectation of profits, every enterpriser must run risks; and, as a risk-taker, he is necessarily a business forecaster. That is to say, his decision to take a risk is based on predictions concerning the degree of the risk and the reward for taking it. He must decide when to make loans, when to buy cotton, when to build a factory, what styles of Shoes to manu facture, when to increase his output. In every case his decision to take one risk rather than another is in?uenced by his expectation concerning the future the trend of interest rates, the price of cotton next week, building costs next April, the demand for tanned shoes next spring, the output of competitors next year. Indeed, any enterpriser could fill an entire volume with the decisions he is forced to make in the ordinary course of business, and every one of them would involve forecasting on a statistical basis.

Détails de l'édition

• Éditeur: Forgotten Books
• Date d'édition: 2018
• Langue: anglais
• ISBN 10: 1330524217
• ISBN 13: 9781330524213
• Reliure: Broché
• Nombre de pages: 335
• Coordonnées du fabricant: Copytech (UK) Ltd, Trading as Printondemand-worldwide.com; gpsr@podww.com; ; 9 Culley Court; Orton Southgate; Peterborough; Cambridgeshire; PE2 6WA; Royaume-Uni
• Personne responsable: non disponible