Forecasting models can be divided into three groups.They are:
A) time series, optimization, and simulation methods
B) judgmental, regression, and extrapolation methods
C) judgmental, random, and linear methods
D) linear, non-linear, and extrapolation methods

Question

Forecasting models can be divided into three groups.They are:
A) time series, optimization, and simulation methods 
B) judgmental, regression, and extrapolation methods 
C) judgmental, random, and linear methods 
D) linear, non-linear, and extrapolation methods

Quizplus · Accepted Answer

The three groups of forecasting models commonly used are judgmental, regression, and extrapolation methods. Time series, optimization, and simulation methods are subcategories within these three groups. Judgmental methods involve intuition and experience, regression methods use historical data and relationships between variables, and extrapolation methods involve extending trends into the future.

Forecasting Models Can Be Divided into Three Groups