In Which of the Following Situations Is the Use of Qualitative

question 61

Multiple Choice

In which of the following situations is the use of qualitative forecasts most appropriate?

• A) A marketing manager has to forecast monthly sales for the coming financial year based on the past monthly sales figures.
• B) A TV network executive has to forecast viewership figures for a daily talk show based on historical data from the past on a similar show on a rival network.
• C) An economist has to forecast credit flow resulting from a newly introduced stimulus package by the federal government.
• D) A country's annual rate of growth for the upcoming year has to be estimated based on the annual GDP data from the last 20 years.

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Definitions:

Cognitive Skills

Mental abilities that enable understanding, learning, problem-solving, and decision-making.

Foresight

The ability to anticipate future trends, consequences, or needs and prepare accordingly.

Intuition

The ability to understand or know something immediately, based on feelings rather than facts or evidence.

Technical Skills

The expertise and competencies required to perform specific tasks in fields such as IT, engineering, or other specialized areas.