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Practice Listening: Select Missing Word
ID: #4251
Medium
Finance
Transcript:
B: Ok. Let’s see – yes. Financial forecasting. The types.
A: There are three types, aren’t there?
B: Yes. The qualitative – that’s sometimes called the judgemental forecast, the time series forecast and the causal forecast. I’ll tell you about each one in turn.
A: You took a lot of notes, didn’t you?
B: Yes. I always do. Anyway, let’s get started. Qualitative forecasting. Years ago businesses used to rely heavily on quantitative forecasting but recently that’s changed. These days companies make decisions based on forecasts that depend on somebody’s judgement or experience.
A: But they do use statistics too, don’t they?
B: Yes. Afterwards. To supplement the findings. The main problem with this type of forecasting is that managers don’t like to share their views when - their views are extreme.
A: There are three types, aren’t there?
B: Yes. The qualitative – that’s sometimes called the judgemental forecast, the time series forecast and the causal forecast. I’ll tell you about each one in turn.
A: You took a lot of notes, didn’t you?
B: Yes. I always do. Anyway, let’s get started. Qualitative forecasting. Years ago businesses used to rely heavily on quantitative forecasting but recently that’s changed. These days companies make decisions based on forecasts that depend on somebody’s judgement or experience.
A: But they do use statistics too, don’t they?
B: Yes. Afterwards. To supplement the findings. The main problem with this type of forecasting is that managers don’t like to share their views when - their views are extreme.
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