Which of the following statements is FALSE? a. Cause-and-Effect forecasting assumes that one or more factors are related to demand and, therefore, can be used to predict future demand. b. All quantitative methods become less accurate as the forecast's time horizon increases. c. Time Series forecasting is based on the assumption that the future is an extension of the past. d. It is generally not recommended to use a combina

Question

Business

Kendal Fields

3 May, 02:06

Which of the following statements is FALSE? a. Cause-and-Effect forecasting assumes that one or more factors are related to demand and, therefore, can be used to predict future demand. b. All quantitative methods become less accurate as the forecast's time horizon increases. c. Time Series forecasting is based on the assumption that the future is an extension of the past. d. It is generally not recommended to use a combina

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Jaqueline Mcbride · Answer 1

It is generally not recommended to use a combination of both quantitative and qualitative methods.

Explanation:

For business success it is important to use a combination of qualitative and quantitative methods.

Quantitative methods involves getting insight from data by using formulas, models and other mathematical methods to draw conclusions. Facts and logic is used to make business decisions.

Qualitative methods involve insights that is not based on mathematical methods, for example finding out what motivates consumer spending. It uses tools such as surveys and interviews.