forecasting

Qualitative methods are employed when no quantitative data are available. Commonly used methods include market research, the Delphi method, and sales force planning. Causal models utilize historical data to predict a relationship between an independent variable and the dependent variable (forecast). Linear regression is a common statistical method used to derive a linear function to develop a forecast Directions: Read through the case study "Personal Care Grooming' on page 194 in the textbook and answer the following question 1. Discuss the conditions and factors that might lead you to try other forecasting methods, such as qualitative or causal models. What types of data might be used as an independent variable for a company with products like those of Personal Care Grooming