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Delphi method is used for:  A. Judgemental forecast  B. Time series forecast  C. Associative model  D. Demand forecast

Question

Delphi method is used for:

  • A. Judgemental forecast
  • B. Time series forecast
  • C. Associative model
  • D. Demand forecast
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Solution

The Delphi method is primarily used for judgmental forecasting. Here’s a brief explanation of the options:

  1. Judgmental Forecast: The Delphi method involves gathering opinions and insights from a panel of experts through multiple rounds of questions, making it fundamentally a judgmental approach to forecasting.

  2. Time Series Forecast: This forecasting method utilizes historical data to predict future trends, which is not the primary approach of the Delphi method.

  3. Associative Model: Associative models involve statistical relationships between variables, which is not the method used in the Delphi technique.

  4. Demand Forecast: While the Delphi method can be applied to demand forecasting, it is not exclusively for this purpose and is better described by judgmental forecasting.

Final Answer

A. Judgemental forecast

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