Question

Statement 1: Quantitative forecasting applies a set of mathematical rules to a series of past data to predict outcomes

Statement 2: Quantitative forecasting are not preferred when managers have sufficient hard data. 

Both statements are incorrect.


Both statements are correct.


Statement 1 is incorrect, statement 2 is correct


Statement 1 is correct, statement 2 is incorrect​

Answer 1

Answer:

Statement 1 is correct, statement 2 is incorrect

Explanation:

Quantitative forecasting are not preferred when managers have sufficient hard data

Answer 2

Answer:

The correct answer is "Statement 1 is correct, statement 2 is incorrect​"

Explanation:

Qualitative forecasting is based on information that can't be measured. It's especially important when a company's just starting out, since there's a lack of past (historical) data. Quantitative forecasting relies on historical data that can be measured and manipulated.

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