Judgmental Forecasting Quiz
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Questions and Answers

What is the Delphi method used for in forecasting?

  • Imitating the way humans learn using algorithms
  • Using historical data to make predictions
  • Forecasting in completely new and unique market conditions
  • Collecting opinions from a group of experts through several rounds of questions (correct)

    • When is judgemental forecasting typically used?

  • During machine learning applications
  • When a new product is being launched (correct)
  • When a new competitor enters the market
  • When there is complete lack of historical data

    • What does machine learning focus on?

  • Collecting opinions from a group of experts through several rounds of questions
  • Forecasting in completely new and unique market conditions
  • Using data and algorithms to imitate the way humans learn (correct)
  • Making predictions based on historical data

    • What is the next evolution of the revenue management function?

    <p>Mathematical Thinking</p> Signup and view all the answers

    What created prerequisites for wider use of machine learning in demand forecasting?

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

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