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Which of the following forecasting techniques is most appropriate when data is scarce?
Correct Answer: C
When data is scarce, the Delphi method is the most appropriate forecasting technique. This method involves: * Expert Judgment: Gathering insights and opinions from a panel of experts through multiple rounds of surveys. * Iterative Process: Experts revise their responses based on feedback until a consensus is reached. * Scarcity of Data: Ideal for situations where historical data is limited or unavailable, relying instead on expert knowledge and experience. References: * "Forecasting: Principles and Practice" by Rob J Hyndman and George Athanasopoulos * "Business Forecasting" by John E. Hanke and Dean W. Wichern