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Questions and Answers
What is the Delphi method used for in forecasting?
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?
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?
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?
What is the next evolution of the revenue management function?
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What created prerequisites for wider use of machine learning in demand forecasting?
What created prerequisites for wider use of machine learning in demand forecasting?
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