For long-term forecasts, it is recommended that which type of forecasts be used?
A) Quantitative
B) Associative
C) Qualitative
D) Forecasts cannot be developed for the long term

Question

Quizplus · Accepted Answer

Qualitative forecasts are the best choice for long-term forecasts. Quantitative forecasts rely on historical data and patterns, which may not accurately predict future trends over a long period of time. Associative forecasts use statistical models, which may also be limited by changes in external factors that cannot be accurately measured. Qualitative forecasts, on the other hand, incorporate expert opinions, market trends, and other subjective information that may be more suited for exploring long-term scenarios.

For Long-Term Forecasts, It Is Recommended That Which Type of Forecasts