Which of the following statements is (are) true? I. Qualitative forecasting techniques are generally used for longer-term decision-making and longer planning horizons, when compared to most quantitative techniques. Il. The ‘Delphi group’ method is a qualitative forecasting method. III. Quantitative forecasting techniques require relevant past data to predict the future. OIonly I and IlI O Il and IlI O I, I and III are true O Il only
Expert Answer
As the name suggests, quantitative forecasting is based on numbers and data from the past to predict our future demands, work progress etc.
Whereas qualitative forecasting uses expert judgements instead
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