Under which of the following conditions is qualitative forecasting considered attractive?
A) When past data are either misleading or obsolete.
B) When the forecasts have to be documented.
C) When the forecasts have to be independent of the forecaster's judgment.
D) When the forecasts can be based on reliable data.

Question

Quizplus · Accepted Answer

Qualitative forecasting is considered attractive when past data are either misleading or obsolete because it relies on expert judgment, market research, and other non-quantitative methods. When historical data is not available, qualitative forecasting becomes the preferred method. Thus, qualitative forecasting is useful when quantitative methods cannot be applied, and the forecasters must rely on their experience and intuition to make an educated prediction.

Under Which of the Following Conditions Is Qualitative Forecasting Considered