Identify a Benefit of Applying Statistical Forecasting Methods

question 76

Multiple Choice

Identify a benefit of applying statistical forecasting methods.

• A) They are particularly useful in dynamic environments.
• B) Under the right conditions, they provide predictions that are much more precise than judgmental methods.
• C) They are particularly useful in predicting important events that have no historical precedent.
• D) They are invariably better than the "best guesses" of experts.
• E) They can be used by organizations as a substitute for relying on the subjective judgments of experts.

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Definitions:

Proxy

An authority to act on behalf of another person in voting at shareholder meetings or making other decisions.