Business, 24.11.2020 23:10 jennifer9983

HELP ASAP DUE AT 3:00 PM Directions: Read the following statements in the order in which they are written. Determine if
each statement represents a quantitative or a qualitative method of sales forecasting.
Put the first letter of the statement in the appropriate row at the bottom of the page,
then proceed to the next statement. After all answers are recorded, each row will
spell a word associated with that method.

Statements:
New Image Hair Salon hires a firm to conduct a survey to determine the frequency of salon visits.
Unemployment figures could decrease demand and may be useful for inventory planning decisions.
Observation of current trends is helpful in sales forecasting.
Method of sales forecasting that is most expensive is this type.
Predicting sales for a new product based on feelings would fall under this category.
If you hear that the cost of plastic for toy production is increasing, you can make advance
purchasing decisions.
Nifty Sporting Goods has a customer suggestion box for new products that the store should offer
for sale.
Business publications can detail the sales of GM vehicles in 2013.
“I need to know how many employees you think I should hire,” Ms. Smith asks the Small Business
Administration.
Oliver, the manager of a Wendy’s restaurant, calls another Wendy’s manager to find out how they
competed with a new McDonald’s.
Exact data and facts can be provided through this sales forecasting method.
Not quite as accurate or precise as the other method, this method is still quite useful.
Retirement-related purchases will increase with the rise in the senior-citizen
population—population figures will be needed.
Sales figures for last year can help a business plan current inventory levels.

QUANTITATIVE:

QUALITATIVE:

Answers: 3

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