In the "jury of executive opinion" method of forecasting:
A) the main advantage is that its results are always very good.
B) each executive projects future trends, but does no extending of the past.
C) forecasters develop a combination of factors.
D) the combined opinions of experienced executives are used to reach a consensus.
E) none of the above.

Question

Quizplus · Accepted Answer

In the "jury of executive opinion" method, the combined opinions of experienced executives are used to reach a consensus, making choice D the correct option. Unlike option A suggests, the method does not always produce accurate results. Option B is incorrect as forecasters are required to extend the past and consider historical trends. Option C is also incorrect as the executives do not develop a combination of factors individually, but instead come to a group decision.

In the "Jury of Executive Opinion" Method of Forecasting