Which one of the following is not a component of demand?Group of answer choicesAverage demandHistorical dataSeasonal elementAutocorrelationA trend
Question
Which one of the following is not a component of demand?Group of answer choicesAverage demandHistorical dataSeasonal elementAutocorrelationA trend
Solution
The component that is not part of demand is Autocorrelation. Autocorrelation is a statistical property of time series data related to the correlation between values of the same series over different periods. It is not a component of demand, but rather a tool used in the analysis of demand patterns. The other options - Average demand, Historical data, Seasonal element, and A trend - are all components or factors that can influence demand.
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