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Which forecasting method is most appropriate when historical data is unavailable? Which process type is most suitable for bridge construction?
Business/Management
ScanSolve AI Answer
Here are the answers to your questions:
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Which forecasting method is most appropriate when historical data is unavailable? The correct option is Delphi method.
- The Delphi method is a qualitative forecasting technique that relies on the opinions of a panel of experts. It is particularly useful when historical data is scarce or non-existent, as it synthesizes expert judgment through iterative rounds of questionnaires and feedback. Moving average, weighted moving average, and exponential smoothing all require historical data for calculation.
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Which process type is most suitable for bridge construction? The correct option is Project process.
- A project process is characterized by unique, complex, and often large-scale tasks with a defined start and end. Bridge construction is a prime example, as each bridge is typically a unique undertaking with specific designs, locations, and challenges, requiring a dedicated team and resources for a limited duration. Continuous, mass, and batch processes are suitable for producing standardized goods in high volumes.
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