When Should Qualitative Methods NOT Be Used

question 47

Multiple Choice

When should qualitative methods NOT be used?

• A) When historic data are unreliable.
• B) When it is impossible to obtain historic data.
• C) For short-range, repetitive decisions.
• D) When making major costly decisions, such as facilities location.

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Definitions:

Number of Substitutes

The quantity of alternative products or services that consumers can choose from in a market.

Absolute Value

A number’s distance from zero on the number line, without considering direction; always a positive value or zero.

Price Elasticity

A measure of how the quantity demanded of a good changes in response to a change in its price.

Gas Sales

The commercial activity of selling gaseous fuels, such as natural gas or propane, to consumers.