Using sophisticated mathematical models, producing accurate forecasts of demand for products is fairly straightforward.

Question

Quizplus · Accepted Answer

While mathematical models can be helpful in forecasting demand, there are many other factors that can affect consumer behavior and make accurate forecasting challenging. Factors such as changes in consumer preferences, unexpected economic shifts, and unpredictable events (such as a pandemic) can all impact demand in ways that are difficult to predict with mathematical models alone.

Using Sophisticated Mathematical Models, Producing Accurate Forecasts of Demand for Products