The Forecasting Technique That Involves a Panel of Managers Each

question 23

Multiple Choice

The forecasting technique that involves a panel of managers each submitting an anonymous forecast for an account which are summarized into a report and then sent to each panel member is the

• A) executive decomposition method.
• B) Delphi method.
• C) executive decision method.
• D) top-down approach.
• E) jury of executive opinion method.

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Definitions:

Framing

Aspects of the presentation of information about a problem that are assumed by decision makers.

Confirmation Bias

The tendency to seek out information that conforms to one’s own definition of or solution to a problem.

Economic Person

A concept in economics and sociology that describes an individual who acts in a rational manner, making decisions based on maximizing personal financial gain.

Rational Decisions

Choices made based on logical reasoning, where alternatives are objectively evaluated based on facts and a clear understanding of goals.