Responsiveness to changes in the environment is an advantage of qualitative forecasting methods.

Name: Responsiveness to changes in the environment is an advantage of qualitative forecasting methods.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Qualitative forecasting methods rely on expert opinions and subjective judgments, allowing for flexibility and adaptation to changes in the environment. This makes them more responsive compared to quantitative methods that rely solely on statistical models and historical data.

Responsiveness to Changes in the Environment Is an Advantage of Qualitative