Identify two business situations where the Delphi method might be used to generate forecasts.

Identify two business situations where the Delphi method might be used to generate forecasts. Can you think of any difficulties and pitfalls associated with using the Delphi method?

1. Name a statistic that is commonly used to detect serial correlation.

2. You test for serial correlation, at the .01 level, with 32 residuals from a regression with two independent variables. If the calculated Durbin-Watson statistic is equal to 1.0, what is your conclusion?

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