Question 1

Which of the following practices is a form of demand management?

Accepted Answer

A) Hotels offering off-season discounts 
B) A restaurant reducing capacity during the afternoon lean hours 
C) Theatres pricing matinee shows at a lower price 
D) All of the above 
E) A and C only 
A) Hotels offering off-season discounts 
B) A restaurant reducing capacity during the afternoon lean hours 
C) Theatres pricing matinee shows at a lower price 
D) All of the above 
E) A and C only

Question 2

In the context of demand management,the loss and replacement of customers is known as churn.

Accepted Answer

A) True 
 B)False

Question 3

Economists want to forecast the demand for automobiles (cars,SUVs and light trucks)as a function of gas prices.Historical data has shown that this relationship can be approximated by a straight line.Which forecasting technique is best suited in this situation?

Accepted Answer

A) Weighted moving average 
B) Exponential smoothing 
C) Simple moving average 
D) Linear regression 
A) Weighted moving average 
B) Exponential smoothing 
C) Simple moving average 
D) Linear regression

Question 4

The naive approach to forecasting makes use of the linear regression technique.

Accepted Answer

A) True 
 B)False

Question 5

In measuring the forecast accuracy,bias is measured by the cumulative sum of forecast errors.

Accepted Answer

A) True 
 B)False

Question 6

What is the demand pattern that can be used to describe the demand for NFL merchandise around the Super Bowl every year?

Accepted Answer

A) Random 
B) Trend 
C) Cycle 
D) Seasonal pattern 
A) Random 
B) Trend 
C) Cycle 
D) Seasonal pattern

Question 7

Simple linear regression is used as a forecasting technique when there are multiple independent variables.

Accepted Answer

A) True 
 B)False

Question 8

In the forecasting process,the step of selecting a forecasting technique occurs before determining the time horizon for the forecast.

Accepted Answer

A) True 
 B)False

Question 9

The exponential smoothing forecasting technique is a form of weighted moving average.

Accepted Answer

A) True 
 B)False

Question 10

What is the demand pattern that can be used to describe the drop in demand for consumer products that coincides with economic recession periods?

Accepted Answer

A) Random 
B) Trend 
C) Cycle 
D) Seasonal pattern 
A) Random 
B) Trend 
C) Cycle 
D) Seasonal pattern

Question 11

In forecasting,what is the Mean Absolute Percent Error (MAPE)?

Accepted Answer

A) It is the difference between the forecast and actual demand. 
B) It is the average,absolute difference between the forecast and actual demand. 
C) It is the absolute error as a percentage of demand. 
D) It is the per-period average of cumulative error. 
A) It is the difference between the forecast and actual demand. 
B) It is the average,absolute difference between the forecast and actual demand. 
C) It is the absolute error as a percentage of demand. 
D) It is the per-period average of cumulative error.

Question 12

In overforecasting

Accepted Answer

A) the forecaster is too optimistic. 
B) the forecaster is too pessimistic. 
C) the thing being forecasted is performing better than expected. 
D) None of the above 
A) the forecaster is too optimistic. 
B) the forecaster is too pessimistic. 
C) the thing being forecasted is performing better than expected. 
D) None of the above

Question 13

A smoothing constant of 0.2 will cause the exponential smoothing forecasting technique to react more quickly to a sudden change in historical demand as compared to using a smoothing constant value of 0.7.

Accepted Answer

A) True 
 B)False

Question 14

Vitamix,a producer of high quality blenders which has a seasonal demand,sells the product through in-store demonstrations at other retail partner stores during the holiday season.During the rest of the year,they use company-owned stores and their online website to sell the product.The company is using a practice called

Accepted Answer

A) channel management. 
B) counterseasonal production. 
C) product phasing. 
D) product churn. 
A) channel management. 
B) counterseasonal production. 
C) product phasing. 
D) product churn.

Question 15

The act of removing seasonal variation from a time series to better estimate trend is known as ________.

Accepted Answer

deseasonalizing a fo

Question 16

In overforecasting,either the forecaster is too optimistic or,the thing being forecasted is performing better than expected.

Accepted Answer

A) True 
 B)False

Question 17

In the case of positive bias,people tend to ________.

Accepted Answer

The answer of In the case of positive bias,people tend...

Question 18

The double exponential smoothing technique requires the use of two smoothing constants.

Accepted Answer

A) True 
 B)False

Question 19

The random variation that occurs in any time series is known as the ________ component.

Accepted Answer

The answer of The random variation that occurs in any...

Question 20

The measure of forecasting error used in computing variance is known as ________.

Accepted Answer

mean squar

Which of the following practices is a form of demand management?

In the context of demand management,the loss and replacement of customers is known as churn.

Economists want to forecast the demand for automobiles (cars,SUVs and light trucks)as a function of gas prices.Historical data has shown that this relationship can be approximated by a straight line.Which forecasting technique is best suited in this situation?

The naive approach to forecasting makes use of the linear regression technique.

In measuring the forecast accuracy,bias is measured by the cumulative sum of forecast errors.

What is the demand pattern that can be used to describe the demand for NFL merchandise around the Super Bowl every year?

Simple linear regression is used as a forecasting technique when there are multiple independent variables.

In the forecasting process,the step of selecting a forecasting technique occurs before determining the time horizon for the forecast.

The exponential smoothing forecasting technique is a form of weighted moving average.

What is the demand pattern that can be used to describe the drop in demand for consumer products that coincides with economic recession periods?

In forecasting,what is the Mean Absolute Percent Error (MAPE)?

In overforecasting

A smoothing constant of 0.2 will cause the exponential smoothing forecasting technique to react more quickly to a sudden change in historical demand as compared to using a smoothing constant value of 0.7.

The act of removing seasonal variation from a time series to better estimate trend is known as ________.

In overforecasting,either the forecaster is too optimistic or,the thing being forecasted is performing better than expected.

In the case of positive bias,people tend to ________.

The double exponential smoothing technique requires the use of two smoothing constants.

The random variation that occurs in any time series is known as the ________ component.

The measure of forecasting error used in computing variance is known as ________.

Introduction to Supply Chain and Operations Management

Supply Chain and Operations Strategy

Product and Process Design and Mapping

Service Design

Customer Relationship Management

Strategic Sourcing

Supplier Management

Inventory Management Fundamentals and Independent Demand

Sales and Operations Planning and Enterprise Resource Planning

Logistics

Project Management

Supply Chain Quality Management

Statistical Process Control

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Exam 8: Demand Management and Forecasting

Which of the following practices is a form of demand management?

In the context of demand management,the loss and replacement of customers is known as churn.

Economists want to forecast the demand for automobiles (cars,SUVs and light trucks)as a function of gas prices.Historical data has shown that this relationship can be approximated by a straight line.Which forecasting technique is best suited in this situation?

The naive approach to forecasting makes use of the linear regression technique.

In measuring the forecast accuracy,bias is measured by the cumulative sum of forecast errors.

What is the demand pattern that can be used to describe the demand for NFL merchandise around the Super Bowl every year?

Simple linear regression is used as a forecasting technique when there are multiple independent variables.

In the forecasting process,the step of selecting a forecasting technique occurs before determining the time horizon for the forecast.

The exponential smoothing forecasting technique is a form of weighted moving average.

What is the demand pattern that can be used to describe the drop in demand for consumer products that coincides with economic recession periods?

In forecasting,what is the Mean Absolute Percent Error (MAPE)?

In overforecasting

A smoothing constant of 0.2 will cause the exponential smoothing forecasting technique to react more quickly to a sudden change in historical demand as compared to using a smoothing constant value of 0.7.

The act of removing seasonal variation from a time series to better estimate trend is known as ________.

In overforecasting,either the forecaster is too optimistic or,the thing being forecasted is performing better than expected.

In the case of positive bias,people tend to ________.

The double exponential smoothing technique requires the use of two smoothing constants.

The random variation that occurs in any time series is known as the ________ component.

The measure of forecasting error used in computing variance is known as ________.

Introduction to Supply Chain and Operations Management

Supply Chain and Operations Strategy

Product and Process Design and Mapping

Service Design

Customer Relationship Management

Strategic Sourcing

Supplier Management

Inventory Management Fundamentals and Independent Demand

Sales and Operations Planning and Enterprise Resource Planning

Logistics

Project Management

Supply Chain Quality Management

Statistical Process Control

New Section

Filters