What type of forecasting is based entirely on the past and present values of a variable?
A) Economic forecasting
B) Time-series forecasting
C) Casual forecasting
D) Qualitative forecasting

Question

Quizplus · Accepted Answer

Time-series forecasting is based on past and present values of a variable, specifically looking at the patterns and trends within the data to make predictions for the future. Economic forecasting may take into account many variables beyond just the past and present values of a single variable. Casual forecasting involves analyzing cause-and-effect relationships and Qualitative forecasting relies on expert judgement and opinions, without necessarily looking at past data.

What Type of Forecasting Is Based Entirely on the Past