Question

Which of the following is a qualitative forecasting method?

1) Time series analysis
2) Regression analysis
3) Delphi method
4) Moving average

Answer 1

The Delphi method is a qualitative forecasting method that relies on expert opinions and consensus rather than numerical data and is the correct answer among the options provided.

Step-by-step explanation:

The qualitative forecasting method mentioned in the options provided is the Delphi method. Qualitative forecasting methods are those that do not rely on numerical data but instead use expert opinions, market research, and similar subjective approaches to predict future events.

It's particularly utilized when there is uncertainty or lack of historical data, hence relying on the insights and judgments of experts rather than numerical analysis.