Data collection using open meetings is involved for which forecasting technique?Group of answer choicesPanel consensusDelphi methodMarket researchHistorical analogyTime series analysis
Question
Data collection using open meetings is involved for which forecasting technique?Group of answer choicesPanel consensusDelphi methodMarket researchHistorical analogyTime series analysis
Solution
The forecasting technique that involves data collection using open meetings is Panel consensus. In this method, a group of experts meet and discuss the forecast. They share their opinions and reach a consensus on the forecast. This method is often used when there is a lack of historical data or when the future is expected to be different from the past.
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