A qualitative forecasting method that obtains forecasts through "group consensus" is known as the
A)Autoregressive model.
B)Delphi approach.
C)mean absolute deviation.
D)None of these alternatives is correct.

Question

Quizplus · Accepted Answer

The Delphi approach is a qualitative forecasting method that involves obtaining forecasts through group consensus, often with the input of experts in a particular field. It is a structured process that involves multiple rounds of soliciting individual opinions and then using anonymous feedback to prompt discussion and refinement of the group's collective forecast. The other options listed - autoregressive model and mean absolute deviation - are quantitative forecasting methods.

A Qualitative Forecasting Method That Obtains Forecasts Through "Group Consensus