The forecasting method which uses an iterative process in which individuals develop their own forecast and then share them among each other and again revise their forecast until a consensus is reached is
A)delphi method.
B)consumer surveys.
C)time series analysis method.
D)string method.

Question

Quizplus · Accepted Answer

The Delphi method is a forecasting technique that involves a group of experts who anonymously provide their forecasts or opinions, share them, and then adjust their views as a process of iteration with the goal of reaching a consensus. This method is particularly used for long-term forecasting and in situations where there is uncertainty or a lack of historical data.

The Forecasting Method Which Uses an Iterative Process in Which