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Flashcards in CHP 5 Deck (3)
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1
Q

What are the 3 Forecasting Techniques

A

Qualitative Forecasting
Quantitative Forecasting
Components of a TIME SERIES

2
Q

What is Qualitative Forecasting?

A

based on opinion and intuition

3
Q

What is Quantitative Forecasting

A

using mathematical models & historical data