Chapter 3 Budget Data Flashcards
1
Q
Quantitative Data
A
Measured with numbers.
2
Q
Qualitative Data
A
Cannot be measured with numbers. Staff Morale for example.
3
Q
Primary Data
A
Data gathered yourself for specific purpose.
Tailored to individual
Expensive and time consuming
4
Q
Secondary Data
A
Data gathered by someone else.
Readily available.
Not specific
5
Q
Internal Data
A
Collected within the organisation.
6
Q
External Data
A
Collected outside the organisation.
7
Q
Forecasting
A
Method to predict what will happen in the future
8
Q
Forecasting Sales
A
Sales expert
Market Research
Time Series
Linear Regression
9
Q
Forecasting Expenditure
A
Production and Purchasing Managers
Market Research
Time Series
Linear Regression
Price Indices
10
Q
A
