Question: What is NOT a potential advantage of using statistical methods for forecasting, compared to relying solely on human judgment? Statistical methods can process large amounts
What is NOT a potential advantage of using statistical methods for forecasting, compared to relying solely on human judgment?
Statistical methods can process large amounts of historical data more efficiently and consistently than human analysts.
Statistical methods are not influenced by cognitive biases or political pressures that can distort human judgments.
Statistical methods can provide a clear audit trail and documentation of the forecasting process, enhancing transparency and accountability.
Statistical methods produce more accurate forecasts than human experts, since they arent prone to biases.
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