Qualitative Forecasts: Methods and Insights
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Qualitative Forecasts: Methods and Insights

Explore the methods of qualitative forecasting including Executive Opinions and Salesforce Opinions. Understand how top-level executives and salespeople utilize their insights to predict future trends and developments.

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@PortableAlbuquerque

Questions and Answers

Qualitative forecasts are based on numerical data.

False

Executive Opinions involve gathering forecasts from frontline employees.

False

Salesforce Opinions provide insights into future sales trends.

True

Consumer Surveys help businesses understand potential changes in supply chain.

<p>False</p> Signup and view all the answers

The Delphi Method involves collecting opinions anonymously and not re-evaluating them.

<p>False</p> Signup and view all the answers

Associative forecasting techniques focus on predicting the future based on unrelated variables.

<p>False</p> Signup and view all the answers

Simple Linear Regression looks at the relationship between three variables.

<p>False</p> Signup and view all the answers

A smaller Standard Error of Estimate means our predictions are further from the actual values.

<p>False</p> Signup and view all the answers

Monitoring Forecast Error involves comparing predicted values with actual values to assess accuracy.

<p>True</p> Signup and view all the answers

Cost and accuracy are the two least important factors to consider when choosing a forecasting technique.

<p>False</p> Signup and view all the answers

Trend Equations help analyze if things are changing over time.

<p>True</p> Signup and view all the answers

Exponential Smoothing gives more weight to older data over recent data.

<p>False</p> Signup and view all the answers

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