The Delphi method is a
A)smoothing technique in forecasting.
B)consensual forecast based on expert opinions.
C)compound growth approach to forecasting.
D)naïve forecasting approach.

Question

Quizplus · Accepted Answer

The Delphi method is a consensual forecasting technique that involves gathering opinions from a group of experts, analyzing those opinions and gradually coming to a consensus about the most likely outcome. This process is repeated until a high degree of consensus is achieved. It is often used in situations where there is high uncertainty, incomplete information or rapidly changing conditions, such as in technological forecasting, business planning or health care policy. Therefore, the best choice is B.

The Delphi Method Is a