Table 11.3. \[\begin{array} { | c | c | } \hline \text { Week } & \begin{array} { c } \text { Patient } \\ \text { Arrivals } \end{array} \\ \hline 1 & 401 \\ 2 & 380 \\ 3 & 411 \\ 4 & 384 \\ \hline \end{array}\] -Use the information in Table 11.3. Compute a three- week moving average forecast for the arrival of medical clinic patients in week 5.

A) less than or equal to 382 B) greater than 382 but less than or equal to 389 C) greater than 389 but less than or equal to 396 D) greater than 396 A) less than or equal to 382 B) greater than 382 but less than or equal to 389 C) greater than 389 but less than or equal to 396 D) greater than 396

Table 11.9. \[\begin{array} { | c | c | c | } \hline \text { Quarter } & \begin{array} { c } \text { Forecasted } \\ \text { Demand } \\ \text { (Units) } \end{array} & \begin{array} { c } \text { Actual } \\ \text { Demand } \\ \text { (Units) } \end{array} \\ \hline 1 & 85 & 95 \\ 2 & 55 & 55 \\ 3 & 70 & 45 \\ 4 & 60 & 75 \\ \hline \end{array}\] -Use the information in Table 11.9. What is the standard deviation of forecast errors for the data?

A) 0 units B) greater than 0, but less than or equal to 10 units C) greater than 10, but less than 20 units D) greater than 20 units A) 0 units B) greater than 0, but less than or equal to 10 units C) greater than 10, but less than 20 units D) greater than 20 units

Consider the following data concerning the performance of a forecasting method. \[\begin{array} { | r | l | l | } \hline \text { Month } & \begin{array} { c } \text { Actual } \\ \text { Demand } \end{array} & \text { Forecast } \\ \hline 1 & 300 & 270 \\ 2 & 200 & 280 \\ 3 & 270 & 260 \\ 4 & 250 & 270 \\ 5 & 310 & 250 \\ \hline \end{array}\]

A) The CFE is less than 100, and the MAD is greater than 50. B) The CFE is less than 100, and the MAD is less than 50. C) The CFE is greater than 100, and the MAD is greater than 50. D) The CFE is greater than 100, and the MAD is less than 50. A) The CFE is less than 100, and the MAD is greater than 50. B) The CFE is less than 100, and the MAD is less than 50. C) The CFE is greater than 100, and the MAD is greater than 50. D) The CFE is greater than 100, and the MAD is less than 50.

Table 11.7 \(\begin{array} { | c | c | } \hline \text { Month } & \begin{array} { c } \text { Units Sold } \\ ( 00 ) \end{array} \\ \hline 1 & 150 \\ 2 & 145 \\ 3 & 160 \\ 4 & 180 \\ 5 & 220 \\ \hline \end{array}\) -Use the information in Table 11.7. The cumulative sum of errors CFE from months 2 through 5 is

A) less than or equal to 80. B) greater than 80 but less than or equal to 85. C) greater than 87 but less than or equal to 90. D) greater than 90. A) less than or equal to 80. B) greater than 80 but less than or equal to 85. C) greater than 87 but less than or equal to 90. D) greater than 90.

Exam 11: Managing Demand and Forecasting

In relation to forecasting, there are no natural laws that make the relationship between demand and other variables continue to behave as they have done in the past.

(True/False)

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Question 181

Table 11.3. Week Patient Arrivals 1 401 2 380 3 411 4 384 -Use the information in Table 11.3. Compute a three- week moving average forecast for the arrival of medical clinic patients in week 5.

(Multiple Choice)

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Question 182

Table 11.9. Quarter Forecasted Demand (Units) Actual Demand (Units) 1 85 95 2 55 55 3 70 45 4 60 75 -Use the information in Table 11.9. What is the standard deviation of forecast errors for the data?

(Multiple Choice)

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Question 183

What is the difference between mean absolute deviation (MAD) and mean squared error (MSE)?

(Essay)

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Question 184

Consider the following data concerning the performance of a forecasting method. Month Actual Demand Forecast 1 300 270 2 200 280 3 270 260 4 250 270 5 310 250

(Multiple Choice)

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Question 185

Why are forecasts for product families typically more accurate than forecasts for the individual items within a product family?

(Essay)

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Question 186

Discuss two guidelines that help when searching for the best time series models.

(Essay)

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Question 187

Table 11.7 Month Units Sold (00) 1 150 2 145 3 160 4 180 5 220 -Use the information in Table 11.7. The cumulative sum of errors CFE from months 2 through 5 is

(Multiple Choice)

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Question 188

Aggregation is the act of clustering several similar products or services.

(True/False)

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Question 189

In relation to forecasting, there are no natural laws that make the relationship between demand and other variables continue to behave as they have done in the past.

Table 11.3. Week Patient Arrivals 1 401 2 380 3 411 4 384 -Use the information in Table 11.3. Compute a three- week moving average forecast for the arrival of medical clinic patients in week 5.

Table 11.9. Quarter Forecasted Demand (Units) Actual Demand (Units) 1 85 95 2 55 55 3 70 45 4 60 75 -Use the information in Table 11.9. What is the standard deviation of forecast errors for the data?

What is the difference between mean absolute deviation (MAD) and mean squared error (MSE)?

Consider the following data concerning the performance of a forecasting method. Month Actual Demand Forecast 1 300 270 2 200 280 3 270 260 4 250 270 5 310 250

Why are forecasts for product families typically more accurate than forecasts for the individual items within a product family?

Discuss two guidelines that help when searching for the best time series models.

Table 11.7 Month Units Sold (00) 1 150 2 145 3 160 4 180 5 220 -Use the information in Table 11.7. The cumulative sum of errors CFE from months 2 through 5 is

Aggregation is the act of clustering several similar products or services.

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