Forecasting methods that use historical demand to make a forecast are known as
A) qualitative forecasting methods.
B) time series forecasting methods.
C) causal forecasting methods.
D) simulation forecasting methods.
E) none of the above

Question

Quizplus · Accepted Answer

Time series forecasting methods make use of historical demand data to make a forecast. Qualitative forecasting methods rely on expert opinions and subjective judgments. Causal forecasting methods look at the relationship between demand and other variables such as price, promotions, and competitors. Simulation forecasting methods use computer models to test different scenarios and assumptions.

Forecasting Methods That Use Historical Demand to Make a Forecast