Judgmental Forecasting Should Only Be Used If No Historical Data

question 26

True/False

Judgmental forecasting should only be used if no historical data are available.

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Definitions:

Material Delay

Material delay refers to a significant postponement in the progress or completion of a project, which affects the overall timeline and possibly the outcome.

Reasonable Contract

A contract whose terms are fair, equitable, and not excessively burdensome or oppressive to any party involved.

Reject

To refuse to accept, submit to, believe, or make use of something.

Express Terms

Express Terms are specific conditions and provisions stated explicitly within a contract or agreement.