An example of a low-cost forecasting technique is

Question

Quizplus · Accepted Answer

Scenario development is a low-cost forecasting technique that involves creating multiple scenarios based on various assumptions about future conditions. This technique does not require extensive data analysis or complex modeling, making it a cost-effective option for organizations with limited resources. Time series models, econometric models, and multiple regression, on the other hand, may require more time, expertise, and resources to implement effectively.

An Example of a Low-Cost Forecasting Technique Is