Question

In __________, qualitative forecasting techniques are used and are based on intuition or an informed opinion.

1) Quantitative forecasting
2) Statistical forecasting
3) Time series forecasting
4) Qualitative forecasting

Answer 1

Qualitative forecasting relies on intuition or informed opinions, similar to qualitative sociology which seeks to understand human behavior through interviews and content analysis. It is different from quantitative methods that depend on statistical data. The correct answer is 4) Qualitative forecasting.

Step-by-step explanation:

In qualitative forecasting techniques, strategies are employed based on intuition or an informed opinion. This contrasts with quantitative methods that leverage statistical data. The format of forecasting that uses qualitative techniques is aptly named qualitative forecasting. Qualitative sociology, which seeks to understand human behavior through methods like in-depth interviews, focus groups, and content analysis, aligns with qualitative forecasting as both rely on non-quantitative data.

Similarly, in research, qualitative data may include various criterion such as customer satisfaction or telephone greetings analyzed through content interpretation rather than numerical analysis. The AP skill 1.4 highlights the ability to use representations and models to solve problems or analyze situations both qualitatively and quantitatively, suggesting an appreciation for both approaches in problem-solving scenarios.