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Qualitative forecasting methods are used when:
Coefficient Of Determination
A measure used in statistical analysis that assesses how well a model explains and predicts future outcomes, often represented by R^2.
Coefficient Of Correlation
A measure that quantifies the degree of linear relationship between two variables, ranging from -1 to 1.
Interval Variables
Quantitative variables where the intervals between the values are equal and meaningful, allowing for comparisons and mathematical operations.
Symmetric Distribution
A distribution where the left and right sides are mirror images of each other around the central point.
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