Which of the following statements is NOT true regarding forecasting? A. Forecasting may involve taking historical data and projecting them into the future with a mathematical model. B. Forecasting is exclusively an objective prediction. C. A forecast is usually classified by the future time horizon that it covers. D. Forecasting is the art and science of predicting future events.

Question

Addisyn Lawson

Business

11 November, 22:56

Which of the following statements is NOT true regarding forecasting? A. Forecasting may involve taking historical data and projecting them into the future with a mathematical model. B. Forecasting is exclusively an objective prediction. C. A forecast is usually classified by the future time horizon that it covers. D. Forecasting is the art and science of predicting future events.

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Answers (1)

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Trevin Cooley · Answer 1

Answer: Forecasting is exclusively an objective prediction.

Explanation: In simple words, the process of predicting any future event by analyzing the past data is called the forecasting. The factors that an analyst takes from the past could be both qualitative and quantitative.

The forecasting process is done for a specified period and not for infinity. In other words, it is the study of trends and predicting how these trends could change in the future.

Hence from the above we can conclude that the correct option is B.