The Delphi Method of Forecasting ________

question 38

Multiple Choice

The Delphi method of forecasting ________.

• A)obtains forecasts through a comparative analysis with a previous situation
• B)uses measures that are believed to influence the behavior of a variable that the researcher wishes to forecast
• C)uses a single measure that weights multiple indicators and provides a measure of overall expectation
• D)promotes unbiased exchanges of ideas and discussion and usually results in some convergence of opinion

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Definitions:

Percentage Change

A mathematical calculation that indicates the degree of change over time, expressed as a proportion of the starting value.

Total Revenue

The complete amount of income generated by the sale of goods or services before any expenses are subtracted.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicative of the sensitivity of consumers to price changes.

Demand

The willingness and ability of consumers to purchase goods and services at different prices.