The qualitative forecasting method is based on opinion & intuition. True or False

TRUE

Explanation: Qualitative forecasting method are mostly based on survey polls, opinions of expert, etc.

While Quantitative deals with measurable numerical qualities, the qualitative deals with observation and opinions.

Qualitative forecasting method is a forecasting method that favours the intuitions and opinions of experts over numeric historic data. While the numeric data analysis will show that increase in production will lead to increase in sales for the coming year in a tobacco company , the experienced sales managers will let the company know that due to the recent law enforced by the government, there will be low sales in the following year. This will allow the company to either reduce their production rate or stay on the same production rate but not increase production.

question - in 1827, john walker, a druggist in a small english town, tipped a splint with sulphur, chlorate of potash, and sulphid of antimony, and rubbed it on sandpaper, and it burst into flame. the druggist had discovered the first friction-chemical match, the kind we use to-day. it is called friction-chemical because it is made by mixing certain chemicals together and rubbing them. although walker's match did not require the bottle of acid, nevertheless it was not a good one. it could be lighted only by hard rubbing, and it sputtered and threw fire in all directions. in a few years, however, phosphorus was substituted on the tip for antimony, and the change worked wonders. the match could now be lighted with very little rubbing, and it was no longer necessary to have sandpaper upon which to rub it. it would ignite when rubbed on any dry surface, and there was no longer any sputtering. this was the phosphorus match, the match with which we are so familiar. according the paragraph what was the benefit of the new phosphorus match? it burst into flame when rubbed on sandpaper. it was made by mixing chemicals. it could be ignited on any dry surface. it threw fire in all directions.

answer - matches required natural chemicals