Asked by Elise Chiong on Jun 24, 2024
Verified
________ 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.
Verified Answer
Learning Objectives
- Comprehend the key disparities between qualitative and quantitative approaches to forecasting.
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