What forecasting model or technique would be better when forecasting demand in a stable market when there is a high degree of certainty in the relationship between the demand for labour and the indicators of that demand?
A)qualitative model
B)quantitative model
C)scenario planning
D)expert surveys

Question

Quizplus · Accepted Answer

In a stable market with a high degree of certainty in the relationship between demand for labor and the indicators of that demand, a quantitative model would be the most appropriate choice for forecasting demand. This is because a quantitative model relies on historical data and statistical methods to identify patterns and forecast future demand, which would be useful in a stable market with a high degree of certainty. Qualitative models, scenario planning, and expert surveys are typically better suited for situations where there is greater uncertainty or subjective factors that cannot be easily measured or modeled.

What Forecasting Model or Technique Would Be Better When Forecasting