Forecasting Flashcards
1
Q
What is qualitative forecasting and quantitive forecasting
A
Qualitative- none numerical factors eg trends, social changes
Quantitive- numerical factors eg inflation,
2
Q
What is the Delphi technique and how does it work
A
a process used to arrive at a group opinion or decision by surveying a panel of experts
3
Q
How to interpret trends on graphical data
A
As one variable increases the other increases, a trend line can be made between the variable points
