What type of forecasting technique relies on the judgment and opinion of knowledgeable individuals?
A) qualitative
B) short term
C) confirmatory
D) predictive
E) quantitative

Question

Quizplus · Accepted Answer

Qualitative forecasting techniques rely on the judgment and opinion of knowledgeable individuals. These techniques are often used in situations where historical data is not available or when a new product is being introduced. Examples of qualitative techniques include expert opinion, market research, and Delphi method.

What Type of Forecasting Technique Relies on the Judgment and Opinion