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?