Which of the following is TRUE about using forecasts?
A) Multiple forecasts are best, and their predictions can be averaged.
B) Forecasts become more accurate the further into the future you predict.
C) Forecasts improve the data used to construct them.
D) The more complex the forecast, the more carefully the math is designed, and the more accurate the forecast becomes.
E) Unexpected events require a company to stick to the forecast.

Question

Quizplus · Accepted Answer

Forecasting is a method for predicting how variables (e.g., interest rates, demand for goods and services) will change in the future. The best answer is to use multiple forecasts and perhaps average their predictions.

Which of the Following Is TRUE About Using Forecasts