Which statement describes a key characteristic of management forecasts for human resource needs?
A)forecasts are quantitative estimates that require large amounts of data
B)forecasts are qualitative estimates of the number and type of people that are needed in the future
C)forecasts are scientific and relatively error-free
D)forecasts rely strictly on sophisticated analytical models

Question

Quizplus · Accepted Answer

Management forecasts for human resource needs are typically qualitative estimates that take into account factors such as anticipated changes in the market, new product development, and other business needs that may impact the number and type of employees needed in the future. While some quantitative data may be used in the forecasting process, the emphasis is typically on more subjective factors that are difficult to measure scientifically.

Which Statement Describes a Key Characteristic of Management Forecasts for Human