KT 6: 3.3.1 Quantitative Sales (TSA)

Question 1

Quantitative sales forecasting

Answer 1

estimating possible futures sales figures on the basis of available primary or secondary quantitative data.

Question 2

Sales forecast

Answer 2

a method of predicting future sales using statistical methods.

Question 3

Seasonal variation

Answer 3

change in the value of a variable e.g. sales, that is related to the seasons.

Question 4

Trend

Answer 4

the general path a series of values, e.e.g sales, follows over time, disregarding variations or random fluctuations.