Which of the following forecasting methods is very dependent on selection of the right individuals who will judgmentally be used to actually generate the forecast?
A) Time series analysis
B) Simple moving average
C) Weighted moving average
D) Delphi method
E) Panel consensus

Question

Quizplus · Accepted Answer

The Delphi method relies heavily on the selection of the right individuals, usually experts or professionals, to generate forecasts. The process involves multiple rounds of feedback and discussion, and the accuracy of the final forecast is highly dependent on the expertise and knowledge of the individuals involved in the Delphi process. The other methods listed do not rely on expert judgment to the same extent as the Delphi method.

Which of the Following Forecasting Methods Is Very Dependent on Selection