It would be most appropriate to combine a judgment approach to forecasting with a quantitative approach by:
A) having a group of experts examine each historical data point to determine whether it should be included in the model.
B) combining opinions about the quantitative models to form one forecasting approach.
C) adjusting a forecast up or down to compensate for specific events not included in the quantitative technique.
D) developing a trend model to predict the outcomes of judgmental techniques in order to avoid the cost of employing the experts.

Question

Quizplus · Accepted Answer

Combining a judgment approach to forecasting with a quantitative approach involves adjusting a forecast up or down to compensate for specific events not included in the quantitative technique. This allows for a more comprehensive and accurate forecast that takes into account both expert judgment and quantitative analysis. A and B do not effectively combine the two approaches, and D does not address the issue of combining the approaches at all.

It Would Be Most Appropriate to Combine a Judgment Approach