Question

All of the following are true about qualitative forecasting methods except​ they

	a.	assume the pattern of the past will continue into the future.
	b.	are appropriate when past data on the variable being forecast are not applicable.
	c.	are appropriate when past data on the variable being forecast are not available.
	d.	generally involve the use of expert judgment to develop forecasts.

Answer 1

All of the following are true about qualitative forecasting methods except they assume the pattern of the past will continue into the future.

qualitative forecasting methods must be used :

1) If there are no data available on the variable being forecast or if the data available are not relevant to the forecasts.

2) In situation where it is suspected future result will be very different than prior periods.

Idea about Qualitative forecasting : it is a method that uses expert (like highly employees and expert of respective fields) judgement rather than numerical analysis.Here expert are consulted to provide insight about the future.

So from the above information given about qualitative forecast method we can see that the method is true for b. , c. and d. but they are false for a.

Answer: a. assume the pattern of the past will continue into the future.