Which of the following statements about forecasting is false?
A)There is an inverse relationship between forecast accuracy and time.
B)The longer the time horizon the more inaccurate the forecast will be.
C)The forecasting horizon should be at least as long as your strategic plan.
D)The longer the time horizon the more accurate the forecast will be.
E)Product life cycle influences the length of the forecast.

Question

Quizplus · Accepted Answer

This statement is false. The longer the time horizon, the more likely external factors will change and the more difficult it becomes to accurately predict future events. Therefore, it is generally more difficult to make accurate long-term forecasts.

Which of the Following Statements About Forecasting Is False