Which of the following is classified as a qualitative forecasting method?

• A. Weighted moving average
• B. Jury of executive opinion
• C. Trend projection
• D. Exponential smoothing

Answer: (B)

Qualitative forecasting methods rely on subjective judgment, intuition, and insights from individuals to predict future outcomes, rather than purely relying on numerical data and historical trends. The jury of executive opinion exemplifies this approach by gathering a panel of experts who provide their insights and opinions regarding future events or trends. This method capitalizes on the expertise and experience of the executives, making it particularly useful in situations where data is scarce or where future developments are uncertain.

In contrast, the weighted moving average, trend projection, and exponential smoothing are all quantitative methods. These methods utilize historical data and statistical calculations to forecast future values, focusing on patterns and trends in the data rather than subjective opinions. Thus, the jury of executive opinion stands out as a valid qualitative forecast, emphasizing human judgment in the forecasting process.