Quantitative forecasting techniques use expert opinions to predict the future, whereas qualitative forecasting uses mathematical analyses to predict future events.

Question

Quizplus · Accepted Answer

The statement is false. Quantitative forecasting uses mathematical analyses such as time-series analysis and regression analysis to predict future events based on past data, while qualitative forecasting relies on expert opinions and judgment to predict future events based on non-numerical data such as market trends and consumer behavior.

Quantitative Forecasting Techniques Use Expert Opinions to Predict the Future