This topic contains a solution. Click here to go to the answer

Author Question: What properties do quantitative forecasting techniques have that qualitative methods do not? What ... (Read 61 times)

renzo156

  • Hero Member
  • *****
  • Posts: 526

Question 1

What is a brand? Name the top five lodging brands.
 
  What will be an ideal response?

Question 2

What properties do quantitative forecasting techniques have that qualitative methods do not?
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tandmlomax84

  • Sr. Member
  • ****
  • Posts: 323

Answer 1

Brand refers to a name that defines a product and serves to differentiate it from that of a competitor. The top five lodging brands are: Marriott, Hilton, InterContinental, Wyndham, and Starwood.

Answer 2

Quantitative methods essentially rely on the notion that past behavior will prove to be a reliable indicator of the future. Such techniques require data and mathematics-based forecasting models. Econometric models, which incorporate economic theory and statistical analysis, are also known as regression models and represent the highest form of quantitative forecasting. They use historical data that reveal causal relationships between the dependent and independent variable(s) that have occurred previously with the expectation that such relationships will hold in the future. Qualitative methods make no assumptions about past statistical relationship. Such forecasts are based on subjective, intuitive, and educated guesses about the future. The Delphi technique, based on a consensus of expert opinions, is the most prominent qualitative method.





 

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

For a complete list of videos, visit our video library