Question

Which of the following is not true of quantitative forecasting methods?

Answer 1

Answer:

d. It involves the use of expert judgment to develop forecasts.

Explanation:

Forecasting :

 Forecasting is the prediction technique of future demand by using past data.

The type of forecasting:

 1 .Qualitative

   In this technique ,expert gives own opinion regarding the future demand of any service or product.

 2. Quantitative

  In this technique

      1 . The information can be quantified

      2.Assume that future demand will follow a past demand curve.

      3.. It can be used when past information about the variable being          

           forecast is available.

In the quantitative forecasting pert judgment does not use to develop forecasts.

Option d is the correct answer.

d. It involves the use of expert judgment to develop forecasts.