Asked by Elise Chiong on Jun 24, 2024

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________ forecasting methods are primarily subjective and rely on human judgment.

A) Qualitative
B) Time-series
C) Causal
D) Simulation

Qualitative Forecasting Methods

Forecasting techniques that are based on judgment and opinion, rather than on strictly numeric or statistical data.

Subjective

Based on or influenced by personal feelings, tastes, or opinions, rather than external facts or evidence.

Human Judgment

The cognitive process of making decisions or drawing conclusions based on personal knowledge, experience, senses, and emotions.

  • Comprehend the key disparities between qualitative and quantitative approaches to forecasting.
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KK
Khaled KadriJun 30, 2024
Final Answer :
A
Explanation :
Qualitative forecasting methods involve human judgment, opinions, and experience to make future predictions. These methods are often used when historical data is not available or when future events are uncertain. Examples of qualitative methods include the Delphi method, market research, and expert opinion. Time-series and causal methods involve numerical data analysis and modeling, while simulation methods involve creating models to simulate complex systems or scenarios.