A sound principle to follow in demand forecasting is to:
A)Try to use more than one forecasting technique in order to check one against the other.
B)Develop minimum and maximum estimates to get a range of possible market variation.
C)Only use methods which can be statistically validated.
D)All of these are correct.
E)Only two of A-B-C are correct.

Question

Quizplus · Accepted Answer

A and B are correct because using multiple forecasting techniques and developing a range of estimates can improve accuracy and account for uncertainty. C is not necessarily true because some effective forecasting methods may not be statistically validated but still provide valuable insights.

A Sound Principle to Follow in Demand Forecasting Is To