Asked by Jalen Denoncourt on Jun 23, 2024
Verified
Maria, a marketing manager at Kurt Consulting, predicts a 15% drop in the sales of their premium packages. She used correlation and regression analyses of previous years' sales records to arrive at the conclusion. Maria is using ___.
A) contingency planning
B) qualitative forecasting
C) quantitative forecasting
D) internal benchmarking
E) external benchmarking
Quantitative Forecasting
The use of statistical models and historical data to predict future trends or outcomes.
Correlation
A statistical measure that indicates the extent to which two or more variables fluctuate together.
Regression Analyses
Statistical methods used to estimate the relationships among variables, often used to predict a key variable based on others.
- Comprehend the significance of utilizing forecasting and scenario planning to anticipate organizational requirements in the future.
Verified Answer
CA
crystal allenJun 25, 2024
Final Answer :
C
Explanation :
Maria is using quantitative forecasting techniques such as correlation and regression analysis to predict the sales drop. Contingency planning involves preparing alternate plans for unexpected events, while qualitative forecasting relies on expert opinions and subjective assessments. Internal and external benchmarking involve comparing performance metrics with other organizations or industry standards, which is not applicable in this scenario.
Learning Objectives
- Comprehend the significance of utilizing forecasting and scenario planning to anticipate organizational requirements in the future.