Question: Question 1 a) What is the difference between qualitative and quantitative forecasting and give two examples of each? (10 marks) b) Explain the (i) trend,

Question 1 a) What is the difference between qualitative and quantitative forecasting and give two examples of each? (10 marks) b) Explain the (i) trend, (ii) seasonal, (iii) cyclical, and (iv) random components of a series. Draw and label the diagram to help explain your answer. (10 marks)

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