Judgemental Forecasting Quiz

A quantitative method of forecasting using historical data

A systematic and qualitative method of forecasting by collecting opinions from a group of experts through several rounds of questions (correct)

A method of forecasting based on demand volatility

A method of forecasting based on machine learning algorithms

When demand volatility is high

When there is a complete lack of historical data (correct)

When traditional forecasting methods are ineffective

When a new competitor enters the market

The use of data and algorithms to imitate the way that humans learn (correct)

The collection of expert opinions for forecasting

Quantitative analysis of historical data

Demand functions and price optimization

<p>Increased computer power and increased demand volatility</p> Signup and view all the answers

<p>The next evolution of the revenue management function</p> Signup and view all the answers