The Panel Consensus Forecasting Approach Requires That the Forecasting Team

question 47

Short Answer

The panel consensus forecasting approach requires that the forecasting team discuss their forecast as a team but the ________ requires that each member of the team develop a separate forecast initially.

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Definitions:

Socioeconomic

Relating to or concerned with the interaction of social and economic factors.

Halo Effect

The positive bias shown by customers toward certain products because of a favorable experience with other products made by the same manufacturer.

Favorable Experience

A positive and satisfying interaction or encounter with a product, service, or organization that meets or exceeds expectations.

Edelman Trust Barometer

An annual survey that measures global trust in institutions such as businesses, media, government, and NGOs.