The Sales Forecasting Approach That Utilizes a Panel of Experts

question 22

Multiple Choice

The sales forecasting approach that utilizes a panel of experts and converts their opinions into an informed consensus by means of highly structured, multi-stage pooling is:

• A)the Delphi method.
• B)executive panel method.
• C)the sales force composite.
• D)organizational learning.
• E)the multiple series method.

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Definitions:

Short Run

A time period in economics where at least one input is fixed, restricting the ability to adjust production levels fully.

Long Run

A timeframe during which all production factors and expenses can change, permitting adjustments to all inputs.

Allocative Efficiency

A state of the economy in which production is in accordance with consumer preferences; every good or service is produced up to the point where the last unit provides a utility to consumers equal to the cost of producing it.

Consumer Surplus

The difference in the amount consumers are prepared and have the means to pay for a service or good compared to the amount they actually do pay.