Qualitative forecasts are best described as:
A) more accurate than quantitative forecasts.
B) more flexible than quantitative forecasts.
C) less subject to judgment errors.
D) too reliant on historical data.

Question

Quizplus · Accepted Answer

Qualitative forecasts rely on expert opinions and knowledge, allowing for more flexibility than strict quantitative models. While they may not always be as accurate as quantitative forecasts, their ability to incorporate subjective factors can make them valuable in certain situations. They are not necessarily less subject to judgment errors, as they are still reliant on human decision-making.

Qualitative Forecasts Are Best Described As