1- Why use both qualitative and quantitative forecasting techniques? 2-Interpret

Question

1- Why use both qualitative and quantitative forecasting techniques?

2-Interpret into English each of the equations below.

Ft+1 = (Bt+ Tt) St+1-N

St = (Dt/Bt) + (1-)St-N

Tt = (Bt- Bt-1) + (1- )Tt-1

Bt = (Dt/St-N) + (1-)(Bt-1 + Tt-1)

3-What do we mean by a rolling forecast?

4-What is the connection between planning and forecasting?

5-What does TOP DOWN and BOTTOM UP refer to in forecasting?

6-What does aggregated vs non-aggregated data mean relative to forecasting and when would you do each?

7-What is split data modeling?

Explanation / Answer

1,

Since both the qualitative and quantitative has many disadvantages, it is advisable to use both simulteneously.

Using a combination of qualitative and quantitative data can improve an evaluation by ensuring that the limitations of one type of data are balanced by the strengths of another. This will ensure that understanding is improved by integrating different ways of knowing. Most evaluations will collect both quantitative data (numbers) and qualitative data (text, images).

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