Question: An information-technology based company wants to forecast the units of computer required for next month. So, it summoned a weekly committee to estimate the

An information-technology based company wants to forecast the units of computer required for next month. So, it summoned a weekly committee to estimate the orders for the previous twelve months and also the orders that estimated to come in for the next four weeks. The committee was made up of operations and marketing analysts and managers from R&D. They would conduct their meetings every Saturday morning reviewing the number of orders that were previously determined and check the accuracy of the forecasted demand and accordingly determine the demand for the subsequent period. Based on the material release order and spreadsheets of data, each member of the committee would indicate forecasts for the next four weeks. Which forecasting method is being used in this scenario?
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The forecasting method being used in this scenario is jury of executive opinion or consensus for... View full answer
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