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How many people are required to provide reliable forecasts?

April 26, 2017forecasts people

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How many people are required to provide reliable forecasts?

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Sample sizes required are dependent upon two things (1) How accurate the forecasts need to be for commercial decision taking. (2) How many product designs etc., are to be tested. For a typical national forecast for 10 to 15 product designs, a sample of 100 to 150 people would be required.