How Do Statistical Forecasting Methods Differ from Judgmental Forecasting Methods

question 16

Multiple Choice

How do statistical forecasting methods differ from judgmental forecasting methods with regard to the labor market?

• A)Judgmental methods are not useful in situations that have no historical precedent.
• B)Statistical methods are the best option for events that have no historical precedent.
• C)Forecasting using judgmental methods is always more precise than forecasting using statistical methods.
• D)Statistical methods are excellent for capturing historic trends.
• E)Judgmental methods are better than statistical methods for events that have historical precedent.