All of the Following Are True About Qualitative Forecasting Methods

question 1

Multiple Choice

All of the following are true about qualitative forecasting methods except

• A) They generally involve the use of expert judgment to develop forecasts.
• B) They assume the pattern of the past will continue into the future.
• C) They are appropriate when past data on the variable being forecast are not applicable.
• D) They are appropriate when past data on the variable being forecast are not available.

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Definitions:

Rectangle Area

The area of a rectangle is calculated by multiplying its length by its width.

Width

Width refers to the measurement or extent of something from side to side; in geometry, it is often used to describe the shorter side of a rectangle.

Division

A mathematical operation that is the inverse of multiplication; it involves splitting a quantity into equal parts.

Simplify

Reducing an expression or equation to its simplest form, often by combining like terms and applying arithmetic operations.