A Qualitative Forecasting Technique in Which Individuals Familiar with Specific

question 36

Multiple Choice

A qualitative forecasting technique in which individuals familiar with specific market segments estimate the demands within these sectors that are then summed to get an overall forecast is called a:

• A)market survey.
• B)life cycle analogy.
• C)panel consensus.
• D)build-up method.

---

Definitions:

Chi-square

A statistical test used to determine if there is a significant difference between observed frequencies and expected frequencies in one or more categories.

Normal Curve

A bell-shaped curve that represents a distribution of values, means, or variables symmetrically clustered around the mean.

Observation

The action or process of closely monitoring or noting phenomena as they occur in a systematic manner for data collection.

Chi-square Statistic

A measure used in statistics to evaluate how well observed data fit expected outcomes under a specific hypothesis, often related to categorical data.