When choosing a forecasting technique, a critical trade-off that must be considered is that between:
A)time series and associative.
B)seasonality and cyclicality.
C)length and duration.
D)simplicity and complexity.
E)cost and accuracy.

Question

Quizplus · Accepted Answer

The trade-off between cost and accuracy is crucial because more accurate forecasts often require more sophisticated and expensive methods, while simpler, less costly methods may provide less accurate forecasts.

When Choosing a Forecasting Technique, a Critical Trade-Off That Must