Which of the following is NOT a forecasting technique? A. Judgemental B. Time series C. Time horizon D. Associative
Question
Which of the following is NOT a forecasting technique?
A. Judgemental
B. Time series
C. Time horizon
D. Associative
Solution
Break Down the Problem
- Identify the list of options provided as potential forecasting techniques.
- Determine which option does not belong to the category of forecasting techniques.
Relevant Concepts
- Judgemental Forecasting: Techniques based on expert opinions and subjective evaluation.
- Time Series Forecasting: Techniques that analyze historical data points to forecast future events based on identified trends and patterns.
- Associative Forecasting: Techniques that involve relationships between variables to make predictions.
- Time Horizon: This refers to the duration for making forecasting predictions, not a technique itself.
Analysis and Detail
- Options A, B, and D represent valid forecasting techniques.
- Option C, "Time horizon," instead relates to the framework or perspective regarding the duration of forecasts rather than a method of forecasting.
Verify and Summarize
After analyzing the options, it is evident that "Time Horizon" does not represent a specific forecasting technique.
Final Answer
C. Time horizon is NOT a forecasting technique.
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