A forecast with a time horizon of about 3 months to 3 years is typically called a:
A) long-range forecast.
B) medium-range forecast.
C) short-range forecast.
D) weather forecast.
E) strategic forecast.

Question

Quizplus · Accepted Answer

A forecast with a time horizon of about 3 months to 3 years is typically called a medium-range forecast. Long-range forecasts are for time horizons beyond three years, while short-range forecasts are for time horizons up to three months. Weather forecasts are short-term forecasts focused on predicting atmospheric conditions in the coming hours or days. Strategic forecasts are long-term forecasts used to guide major organizational decisions.

A Forecast with a Time Horizon of About 3 Months