Which of the following forecasting methods uses executive judgment as its primary component for forecasting?
A) Historical analogy
B) Time series analysis
C) Panel consensus
D) Market research
E) Linear regression

Question

Quizplus · Accepted Answer

Panel consensus is a forecasting method that uses the opinions and judgments of a group of executives or experts as its primary component for forecasting. This method is often used when there is a lack of data or when past data is not reliable for forecasting. Historical analogy, time series analysis, and linear regression are all quantitative forecasting methods that rely on past data and mathematical models. Market research is a qualitative method that involves gathering data about customer demands and preferences.

Which of the Following Forecasting Methods Uses Executive Judgment as Its