Question 1

A graphical plot with sales on the Y axis and time on the X axis is a

Accepted Answer

A) scatter diagram. 
B) trend projection. 
C) radar chart. 
D) line graph. 
A) scatter diagram. 
B) trend projection. 
C) radar chart. 
D) line graph.

Question 2

Exponential smoothing cannot be used for data with a trend.

Accepted Answer

A) True 
 B)False

Question 3

Use simple exponential smoothing with α = 0.9 to forecast donut sales for April.Assume that the forecast for January was for 28 donuts.

Accepted Answer

A) 29.93 
B) 29.17 
C) 30.22 
D) 28.49 
A) 29.93 
B) 29.17 
C) 30.22 
D) 28.49

Question 4

The following table represents the new members that have been acquired by a fitness center.
   Assuming α = 0.3, β = 0.4, an initial forecast of 40 for January, and an initial trend adjustment of 0 for January, use exponential smoothing with trend adjustment to come up with a forecast for May on new members.

Accepted Answer

@#IMG-DLM& May forec

Question 5

The following table shows the number of pies consumed by the deans' suite during a monthly pie-eating contest.   What is the forecast tracking signal for March?

Accepted Answer

A) -0.17 
B) -0.33 
C) -0.55 
D) -0.75 
A) -0.17 
B) -0.33 
C) -0.55 
D) -0.75

Question 6

Demand for soccer balls at a new sporting goods store is forecasted using the following regression equation: Y = 98 + 2.2X where X is the number of months that the store has been in existence.
Let April be represented by X = 4.April is assumed to have a seasonality index of 1.15.What is the forecast for soccer ball demand for the month of April (rounded to the nearest integer)?

Accepted Answer

A) 123 
B) 107 
C) 100 
D) 115 
A) 123 
B) 107 
C) 100 
D) 115

Question 7

Discuss the use of a tracking signal.

Accepted Answer

A tracking signal measures how

Question 8

The naïve forecast for the next period is the actual value observed in the current period.

Accepted Answer

A) True 
 B)False

Question 9

The fewer the periods over which one takes a moving average, the more accurately the resulting forecast mirrors the actual data of the most recent time periods.

Accepted Answer

A) True 
 B)False

Question 10

In exponential smoothing, discuss the difference between α and β.

Accepted Answer

α is a weight applied to adjus

Question 11

Plossl and Wight suggest a reasonable limit for the tracking signal for low-volume stock items is considered to be

Accepted Answer

A) ±3. 
B) ±4. 
C) ±8. 
D) ±9. 
A) ±3. 
B) ±4. 
C) ±8. 
D) ±9.

Question 12

A TIME SERIES forecasting model in which the forecast for the next period is the actual value for the current period is the

Accepted Answer

A) Delphi model. 
B) Holt's model. 
C) naïve model. 
D) exponential smoothing model. 
A) Delphi model. 
B) Holt's model. 
C) naïve model. 
D) exponential smoothing model.

Question 13

Which of the following statements about scatter diagrams is true?

Accepted Answer

A) Time is always plotted on the y-axis. 
B) It can depict the relationship among three variables simultaneously. 
C) It is helpful when forecasting with qualitative data. 
D) The variable to be forecasted is placed on the y-axis. 
A) Time is always plotted on the y-axis. 
B) It can depict the relationship among three variables simultaneously. 
C) It is helpful when forecasting with qualitative data. 
D) The variable to be forecasted is placed on the y-axis.

Question 14

The following table shows the number of pies consumed by the deans' suite during a monthly pie-eating contest.   What is the forecast MAD?

Accepted Answer

A) 2.17 
B) 2.66 
C) 3.29 
D) 3.75 
A) 2.17 
B) 2.66 
C) 3.29 
D) 3.75

Question 15

The following table represents the new members that have been acquired by a fitness center.   Assuming α = 0.3, β = 0.4, an initial forecast of 40 for January, and an initial trend adjustment of 0 for January, use exponential smoothing with trend adjustment to come up with a forecast for April on new members.

Accepted Answer

A) 58.57 
B) 63.23 
C) 52.25 
D) 55.81 
A) 58.57 
B) 63.23 
C) 52.25 
D) 55.81

Question 16

The Delphi method of forecasting is both iterative and qualitative.

Accepted Answer

A) True 
 B)False

Question 17

An exponential forecasting method is a time series forecasting method.

Accepted Answer

A) True 
 B)False

Question 18

If the Q1 demand for a particular year is 200 and the seasonal index is 0.85, what is the deseasonalized demand value for Q1?

Accepted Answer

A) 170 
B) 185 
C) 215 
D) 235.29 
A) 170 
B) 185 
C) 215 
D) 235.29

A graphical plot with sales on the Y axis and time on the X axis is a

Exponential smoothing cannot be used for data with a trend.

Use simple exponential smoothing with α = 0.9 to forecast donut sales for April.Assume that the forecast for January was for 28 donuts.

The following table shows the number of pies consumed by the deans' suite during a monthly pie-eating contest. What is the forecast tracking signal for March?

Discuss the use of a tracking signal.

The naïve forecast for the next period is the actual value observed in the current period.

The fewer the periods over which one takes a moving average, the more accurately the resulting forecast mirrors the actual data of the most recent time periods.

In exponential smoothing, discuss the difference between α and β.

Plossl and Wight suggest a reasonable limit for the tracking signal for low-volume stock items is considered to be

A TIME SERIES forecasting model in which the forecast for the next period is the actual value for the current period is the

Which of the following statements about scatter diagrams is true?

The following table shows the number of pies consumed by the deans' suite during a monthly pie-eating contest. What is the forecast MAD?

The Delphi method of forecasting is both iterative and qualitative.

An exponential forecasting method is a time series forecasting method.

If the Q1 demand for a particular year is 200 and the seasonal index is 0.85, what is the deseasonalized demand value for Q1?

Introduction to Quantitative Analysis

Probability Concepts and Applications

Decision Analysis

Regression Models

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation, Assignment, and Network Models

Integer Programming, Goal Programming, and Nonlinear Programming

Project Management

Waiting Lines and Queuing Theory Models

Simulation Modeling

Markov Analysis

Statistical Quality Control

Analytic Hierarchy Process

Dynamic Programming

Decision Theory and the Normal Distribution

Game Theory

Mathematical Tools: Determinants and Matrices

Calculus-Based Optimization

Linear Programming: The Simplex Method

Transportation, Assignment, and Network Algorithms

Filters

Exam 5: Forecasting

A graphical plot with sales on the Y axis and time on the X axis is a

Exponential smoothing cannot be used for data with a trend.

Use simple exponential smoothing with α = 0.9 to forecast donut sales for April.Assume that the forecast for January was for 28 donuts.

The following table shows the number of pies consumed by the deans' suite during a monthly pie-eating contest. What is the forecast tracking signal for March?

Discuss the use of a tracking signal.

The naïve forecast for the next period is the actual value observed in the current period.

The fewer the periods over which one takes a moving average, the more accurately the resulting forecast mirrors the actual data of the most recent time periods.

In exponential smoothing, discuss the difference between α and β.

Plossl and Wight suggest a reasonable limit for the tracking signal for low-volume stock items is considered to be

A TIME SERIES forecasting model in which the forecast for the next period is the actual value for the current period is the

Which of the following statements about scatter diagrams is true?

The following table shows the number of pies consumed by the deans' suite during a monthly pie-eating contest. What is the forecast MAD?

The Delphi method of forecasting is both iterative and qualitative.

An exponential forecasting method is a time series forecasting method.

If the Q1 demand for a particular year is 200 and the seasonal index is 0.85, what is the deseasonalized demand value for Q1?

Introduction to Quantitative Analysis

Probability Concepts and Applications

Decision Analysis

Regression Models

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation, Assignment, and Network Models

Integer Programming, Goal Programming, and Nonlinear Programming

Project Management

Waiting Lines and Queuing Theory Models

Simulation Modeling

Markov Analysis

Statistical Quality Control

Analytic Hierarchy Process

Dynamic Programming

Decision Theory and the Normal Distribution

Game Theory

Mathematical Tools: Determinants and Matrices

Calculus-Based Optimization

Linear Programming: The Simplex Method

Transportation, Assignment, and Network Algorithms

Filters