Which of the following statements is (are) true? I. Qualitative forecasting techniques are generally used for longer-term decision-making and longer planning horizons, when compared to most quantitative techniques. Il. The ‘Delphi group’ method is a qualitative forecasting method. III. Quantitative forecasting techniques require relevant past data to predict the future. OIonly I and IlI O Il and IlI O I, I and III are true O Il only

Which of the following statements is (are) true? I. Qualitative forecasting techniques are generally used for longer-term decision-making and longer planning horizons, when compared to most quantitative techniques. Il. The ‘Delphi group’ method is a qualitative forecasting method. III. Quantitative forecasting techniques require relevant past data to predict the future. OIonly I and IlI O Il and IlI O I, I and III are true O Il only

 

Solution

As the name suggests, quantitative forecasting is based on numbers and

AllEscort