GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Delphi Method
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Marshall Method
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Tausing Method
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None of the above
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Detailed explanation-1: -The Delphi method, also known as the estimate-talk-estimate technique (ETE), is a systematic and qualitative method of forecasting by collecting opinions from a group of experts through several rounds of questions.
Detailed explanation-2: -The Delphi method is a process used to arrive at a group opinion or decision by surveying a panel of experts. Experts respond to several rounds of questionnaires, and the responses are aggregated and shared with the group after each round.
Detailed explanation-3: -The concept of using expert opinion for forecasting is known as the Delphi Method. Under this method the group’s estimates are returned to the individual experts for review and a second round of forecasts is received from the experts. With each round the degree of consensus improves.
Detailed explanation-4: -History. The name Delphi derives from the Oracle of Delphi, although the authors of the method were unhappy with the oracular connotation of the name, “smacking a little of the occult". The Delphi method assumes that group judgments are more valid than individual judgments.