<?xml version="1.0"?>
<rss version="2.0">
   <channel>
      <title>2.	Discuss the costs and benefits associated with statistical versus judgmental forecasts for labor demand and labor supply.  Under what conditions might either of these techniques be infeasible?  Under what conditions might both are feasible but one more desirable than the other? by simplyww</title>
      <link>https://padlet.com/huda_mohd/rq4_q2</link>
      <description></description>
      <language>en-us</language>
      <pubDate>2018-08-01 01:33:39 UTC</pubDate>
      <lastBuildDate>2020-01-20 05:07:30 UTC</lastBuildDate>
      <webMaster>hello@padlet.com</webMaster>
      <image>
         <url></url>
      </image>
      <item>
         <title>ANSWER:</title>
         <author>huda_mohd</author>
         <link>https://padlet.com/huda_mohd/rq4_q2/wish/272169848</link>
         <description><![CDATA[<div><strong>Certainly, judgment by experts may be intuitively appealing since it appears faster and less expensive than compiling and analyzing statistics.&nbsp; There may not be employees available who have the skills to work with data for planning purposes.&nbsp; Hiring consultants to analyze the data might be very expensive, and the perception could be that the planning could be done without this laborious and expensive step.&nbsp; However, if the situation is relatively stable, these statistics may be the best source of projections for future planning strategies, since one could expect the future to be very similar to the past.<br></strong><br></div><div><strong>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Both these techniques might be infeasible to use when the environment is so unstable that neither past experience nor expert judgment will provide a reliable base of information.&nbsp; Both may be feasible when there is some instability in the environment. Statistical information could be examined in comparison to leading indicators.&nbsp; This might help define a relationship between actual changes in the environment and what happens to human resources.&nbsp; For example, in a bank, although mortgage interest rates may be unstable, there is a strong, negative correlation between mortgage interest rates and the number of analysts necessary to process mortgage applications Judgment of experts may be needed, however, to attempt a projection of what may happen to mortgage interest rates in the future.</strong>&nbsp;</div>]]></description>
         <enclosure url="" />
         <pubDate>2018-08-07 06:12:00 UTC</pubDate>
         <guid>https://padlet.com/huda_mohd/rq4_q2/wish/272169848</guid>
      </item>
   </channel>
</rss>
