The difference between judgmental forecasting and econometric forecasting is that the former:
A) takes into account qualitative factors only
B) is less accurate but cheaper
C) is not based on a formal model
D) is used for short-term forecasting only

Question

Quizplus · Accepted Answer

Judgmental forecasting relies on expert opinions and intuition rather than a formal statistical model, which is characteristic of econometric forecasting.

The Difference Between Judgmental Forecasting and Econometric Forecasting Is That