Which of the following statements about forecasting is not true? Select one: a. Forecasts are usually wrong. b. It is usually harder to forecast farther into the future than closer. c. Forecasts always involve numbers. d. Variability makes accurate forecasting difficult.

Question

Lena Cook

Social Studies

29 October, 18:06

Which of the following statements about forecasting is not true? Select one: a. Forecasts are usually wrong. b. It is usually harder to forecast farther into the future than closer. c. Forecasts always involve numbers. d. Variability makes accurate forecasting difficult.

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Answers (1)

Know the Answer?

Leroy Cross · Answer 1

Answer: (c)

Explanation:

To say Forecast are usually wrong is incorrect as Forecasting involve estimating the future event which may deviate from actual result slightly, but can give a good approximation to judge the future event. But if we want exact data then it can be wrong.

Also, Forecasting can be Qualitative therefore it might not involve numbers. This type of forecasting involves a panel of experienced persons who forecast the future event based on their past experiences.