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Forecasting: Strategic Role, Components & Types Video

Instructions:

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

question 1 of 3

What is quantitative forecasting?

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1. What is qualitative forecasting?

2. What is forecasting?

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About This Quiz & Worksheet

To see how much you know about forecasting, use the quiz/worksheet combo. Different types of forecasting and the definition of forecasting are among the topics on the quiz.

Quiz & Worksheet Goals

These materials help check your knowledge of:

  • Qualitative vs. quantitative forecasting
  • Main reason for using budgets
  • How often companies use forecasting
  • Definition of forecasting

Skills Practiced

  • Information recall - access the knowledge you have gained about what qualitative forecasting looks like
  • Knowledge application - use your knowledge to define the term forecasting in a business context
  • Interpreting information - verify that you can read information regarding why companies use budgets and interpret it correctly

Additional Learning

To learn more about this process, go through the lesson called Forecasting: Strategic Role, Components & Types. Use this lesson to also cover these topics:

  • Benefits of using forecasting
  • Types of forecasting
  • Components of qualitative and quantitative forecasting
Final Exam
Chapter Exam
Forecasting in Operations Management
Chapter too short for exam
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