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What is Forecasting in Business? - Definition & Models

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Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is forecasting?

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1. What is quantitative forecasting?

2. What is qualitative forecasting?

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About This Quiz & Worksheet

Gauge your understanding of business forecasting models by completing this quiz and worksheet. You will need to be able to provide definitions for some key terms in order to finish these practice questions.

Quiz & Worksheet Goals

Use this quiz to test your ability to answer questions that involve:

  • Forecasting definitions
  • Specific types of forecasting
  • Forecasting suited to short-term events

Skills Practiced

Working on this quiz can help you get the practice you need with these study skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on forecasting in business
  • Defining key concepts - ensure that you can accurately define main terms, such as forecasting, quantitative forecasting and qualitative forecasting
  • Information recall - access the knowledge you've gained regarding various types of quantitative forecasting

Additional Learning

Keep improving your understanding of this subject by studying the lesson associated with this quiz titled What is Forecasting in Business? - Definition & Models. We created this lesson to provide you with engaging information about:

  • Why companies try to use forecasting
  • Differences between types of forecasting
  • Forecasting in business examples
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