Which of the following statement is TRUE regarding forecasting methods?

Question

Quizplus · Accepted Answer

Forecasting typically involves a combination of quantitative methods, such as statistical analysis, and subjective judgment based on a variety of factors. While hard data is certainly important, it is not the only factor in effective HR forecasting. Option A is incorrect as subjective judgment is necessary for forecasting. Option B is incorrect because statistical regression analysis is a quantitative method, not a judgmental one. Option D is incorrect as short-run projections are typically more accurate than long-run projections.

Which of the Following Statement Is TRUE Regarding Forecasting Methods