Question

__________ is a qualitative forecasting technique in which experts work individually to develop forecasts. The individual forecasts are shared among the group, and then each participant is allowed to modify his or her forecast based on information from the other experts. This process is repeated until consensus is reached. ANSWER
a. Unselected Panel consensus forecasting
b. Unselected Build-up forecasting
c. Unselected The Delphi method
d. Unselected The life cycle analogy method
e. Unselected I DON'T KNOW YET

Answer 1

Answer:

C

Explanation:

Delphi method is a iterative group process, continues until consensus is reached.  

It is generally applied to long term forecasting of demand. It is good for new products or for situations that are not well suited for quantitative analysis. Like other qualitative approches, the Delphi method is difficult to accurately measure.

There are three parts of participants:

-Decision maker. Evaluate responses and make decisions.

-Staff. Administering survey.

-Respondents. People who can make valuable judgments.