Question

Which of the following forecasting technique uses three types of participants: decision-makers, staff personnel and respondents?

• A. Expert's opinion
• B. Sales force survey
• C. Consumer survey
• D. Delphi method

Answer 1

Answer:

D. Delphi method

Forecasting is the prediction of future sales or demand for a product. Qualitative technique involves opinion survey, market trial, market research, and Delphi technique. Delphi technique uses a panel of experts including decision-makers, staff personnel, and respondents to obtain the final forecast by common opinion. Quantitative technique is used for short term forecasting and involves methods like Simple Moving Average, Weighted Moving Average, Simple Exponential Smoothing, and Trend Line Estimate or Linear Regression.