In general,qualitative models are better when forecasting demand in stable markets when there is a high degree of certainty in the relationship between the demand for labour and the indicators of that demand.

Question

Jamil Salman · Accepted Answer

Final Answer : False, Explanation :  Quantitative models are typically better in stable markets with high certainty, as they rely on historical data and statistical methods to forecast demand. Qualitative models are more suited for uncertain or changing environments where expert judgment and subjective factors are important.

In general,qualitative models are better when forecasting demand in stable markets when there is a high degree of certainty in the relationship between the demand for labour and the indicators of that demand.

Definitions

Learning Objectives

Learning Objectives

Related questions