1. What are the various forecasting methods? Forecasting methods are divided into two broad categories of qualitative methods and quantitative methods. Qualitative methods of forecasting are judgment based, opinion based, intuition based, emotions based, or personal experience of the individual conducting the forecast. There is no mathematical element in qualitative forecasting. On the other hand, quantitative forecasting methods rely on mathematical computations and objectivity. Qualitative methods of forecasting include; executive opinion, market survey, sales force composite, and Delphi method. Quantitative methods include; time series models and associative models (Hamlett). 2. Who will do the forecasting? In a ...
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