9. In comparing the Delphi and Expert Opinion methods, the former arrives at a most likely forecast, as well as an estimate of forecast error.

True

False

10. When a forecast has a lower deviation and lower bias it is preferred.

True

False

11. The basic strategy of time-series forecasting is to identify only the magnitude of each component on the basis of available past data.

True

False

12. Qualitative methods of forecasting are typically used for medium range.

True

False

13. Qualitative Forecasting methods rely on managerial judgement and are often used when there is a lack of reliable data.

True

False