As compared to long-range forecasts,short-range forecasts:
A)are less accurate.
B)deal with less comprehensive issues supporting management decisions.
C)employ similar methodologies.
D)all of the above
E)none of the above

Question

Quizplus · Accepted Answer

Short-range forecasts typically deal with more narrow and immediate issues, whereas long-range forecasts look further into the future and take into account a wider range of variables. Although both types of forecasts employ similar methodologies, short-range forecasts are often more accurate due to the relatively short time frame and the ability to revise them more frequently based on recent data. Therefore, choice A is not accurate. However, short-range forecasts may not support management decisions on comprehensive issues, such as strategic planning or major investments, as effectively as long-range forecasts would. Hence, choice B is correct.

As Compared to Long-Range Forecasts,short-Range Forecasts