Final answer:
The statement about qualitative forecasting is false. Qualitative forecasting does not use time series data but relies on non-quantitative methods. Duration is quantitative continuous, the number of letters in words is quantitative discrete, and the number of times per week is also quantitative discrete.
Step-by-step explanation:
The statement 'Qualitative forecasting uses time series data to calculate the forecast for the next period ahead of the most recent actual data value' is false. Qualitative forecasting involves using expert judgment, intuition, or other non-quantitative methods in making predictions about the future, instead of analyzing numerical data from the past. Time series data, which tracks the values of a variable over time, is typically used in quantitative forecasting methods, where mathematical models process historical data to make forecasts.
To answer the remaining questions:
- Duration, or the amount of time, can be considered as quantitative continuous data, as it can be measured to any level of precision.
- The number of letters in words used in a novel would be quantitative discrete data because you're counting the number of letters, which are whole numbers and cannot be fractional or decimal.
- The term 'number of times per week' describes data that is usually quantitative discrete because it represents a count of occurrences within a given time frame, which is typically a whole number.