Question: 3 (a) Quantitative methods such as time series analysis are generally used For short-term forecasting. Qualitative forecasting methods are generally used for mid to long-term

3 (a) Quantitative methods such as time series

3 (a) Quantitative methods such as time series analysis are generally used For short-term forecasting. Qualitative forecasting methods are generally used for mid to long-term forecasting. Critically compare some of the main types of Qualitative forecasting methods. (4) (b) Paisley Ltd. are a software company that produce Product Data Management (PDM) software for manufacturing companies. The monthly sales for the software for last three years is shown in the table below: Mar Apr 2018 2019 2020 150 137 195 225 175 389 189 326 57 293 279 525 189 302 358 378 505 799 454 618 630 564 639 1790 1000 502 1092 954 758 702 327 235 512 300 612 354 A line plot of these data is given in the graph below: Monthly Downloads 1200 1000 800 Downloads 600 400 200 0 Jul Oct Jul Oct Oct Jul Jan Apr Jan Apr Jan Apr Month

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!