Final answer:
The statement is false because quantitative forecasting methods are based on mathematical models and historical data, while qualitative forecasting relies on subjective judgments and opinions.
Step-by-step explanation:
The statement is false. Quantitative forecasting methods use mathematical models and historical data to generate forecasts. These methods are data-driven and often involve statistical analysis to predict future trends based on numeric data such as sales figures or economic indicators. On the other hand, qualitative forecasting methods are based on opinions, intuition, and subjective judgments. This approach may include techniques like expert panels, Delphi method, and scenario writing, which rely on the insights and experiences of individuals to make predictions about future events.
Quantitative data in the social sciences often include large-scale surveys or experiments where numerical data can reveal patterns in human behavior, while qualitative data typically involves in-depth interviews, focus groups, and content analysis to provide a detailed understanding of human behaviors and beliefs. Qualitative research is seen as valuable for exploring complex questions where human thoughts, feelings, and behaviors are important and do not easily lend themselves to quantitative measures.