Exam1 - FC2 - Quantitative Methods Qualitative Methods...

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Quantitative Methods Qualitative Methods
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Types of forecasting methods that are based on judgments or opinions, and is subjective in nature; don not rely on any mathematical computations. Types of forecasting methods that are based are objective in nature; rely heavily on mathematical computations.
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Market Research Executive Opinion
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Approach in which a group of managers meet and collectively develop a forecast. Approach that uses surveys and interviews to determine customer preferences and assess demand.
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Executive Opinion Delphi Method
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Approach in which a forecast is the product of a consensus among a group of experts. Come to a consensus agreement, but might encounter someone who exerts undue influence, like a top manager.
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1. Executive opinion 2. Market research 3. Delphi method Delphi Method
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Sharing information in an anonymous fashion, with no reference as to who said what; also submit rationale; go through rounds.
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This note was uploaded on 09/08/2011 for the course MAN 3520 taught by Professor Stephengoodman during the Spring '10 term at University of Central Florida.

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Exam1 - FC2 - Quantitative Methods Qualitative Methods...

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