A qualitative forecast
A) predicts the quality of a new product.
B) predicts the direction, but not the magnitude, of change in a variable.
C) is a forecast that is classified on a numerical scale from 1 (poor quality) to 10 (perfect quality).
D) is a forecast that is based on econometric methods.

Question

Quizplus · Accepted Answer

Qualitative forecasts focus on predicting the direction of trends or changes without specifying the exact numerical value or magnitude of those changes. They are often based on expert opinions or market research rather than on quantitative data analysis.

A Qualitative Forecast