There are many approaches to forecasting. In selecting a specific method that suits the circumstances, which of the following are considered important criteria?

Question

Quizplus · Accepted Answer

All of the options listed are important criteria when selecting a specific forecasting method. It is important to consider the practicality of the method, the resources and data needed to make it work, the cost-effectiveness of the method, and whether its end results are useful and reliable. Therefore, all answers are correct.

There Are Many Approaches to Forecasting