Question

Making assumption for future is called​

Answer 1

Answer:

The assumptions about future derived from forecasting and used in planning are known as planning premises.

Planning premises are the anticipated environment in which plans are expected to operate.

Answer 2

Making assumptions for the future is called Forecasting.

• Forecasting is a method for predicting future patterns using historical data.
• Businesses use forecasting to figure out how to allocate their budgets and forecast future spending.
• Demand for the goods and services given is usually determined by predicted demand.
• Forecasting is a problem-solving and data-analysis method.
• Economists make assumptions about the scenario they're researching, which must be checked before predictive variables can be calculated.
• A suitable data collection is chosen, and the elements exposed are used to modify data.
• A prediction is produced once the data has been analyzed.
• Finally, the forecast is compared to the actual findings to create a more accurate future forecasting model.