Which of the following is considered to be a category of forecasting models?
A)Qualitative
B)Time-series
C)Causal models
D)both A and B
E)A,B,and C

Question

Quizplus · Accepted Answer

Qualitative models are used when historical data is not available and experts have to rely on their experience and judgment to make predictions. Time-series models are based on historical data and use patterns and trends from the past to forecast future values. Causal models use the cause-and-effect relationship between variables to make predictions. Therefore, all three categories are considered to be forecasting models, and the best choice is E, which includes all of them.

Which of the Following Is Considered to Be a Category