The two most important factors in choosing a forecasting technique are:
A) cost and time horizon.
B) accuracy and time horizon.
C) cost and accuracy.
D) all of the choices are correct.
E) none of the choices are correct.

Question

Quizplus · Accepted Answer

While cost and time horizon are important considerations, the primary goal of a forecasting technique is to achieve accuracy. If the technique is not accurate, then the cost and time spent on it would be wasted. Therefore, accuracy should be the most important factor, followed by cost and time horizon as secondary considerations.

The Two Most Important Factors in Choosing a Forecasting Technique