A forecasting procedure for acquiring informed judgements and opinions from knowledgeable individuals in order to develop a consensus about what will occur in the future is
A)data mining
B)regression
C)long-range forecasting
D)the Delphi method

Question

Quizplus · Accepted Answer

The Delphi method is a forecasting procedure that involves soliciting opinions from a panel of experts in a particular field or subject area. The experts provide their insights anonymously, and their input is compiled and fed back to the group, ultimately resulting in a consensus forecast. This method is particularly useful in situations where there is a high degree of uncertainty and where traditional forecasting techniques may not be effective. The other answer choices are not relevant to this method of forecasting.

A Forecasting Procedure for Acquiring Informed Judgements and Opinions from Knowledgeable