Question 1

Which forecasting technique would you consider for technological forecasts?

Accepted Answer

A Delphi method because techno

Question 2

Using sales force estimates for forecasting has the advantage that

Accepted Answer

A)  confusion between customer "wants" (wish list) and customer "needs" (necessary purchases) is eliminated. 
B)  statistical estimates of seasonal factors are more precise than any other approach. 
C)  forecasts of individual sale force members can be easily combined to get regional or national sales totals. 
D)  no biases exist in the forecasts. 
A)  confusion between customer "wants" (wish list) and customer "needs" (necessary purchases) is eliminated. 
B)  statistical estimates of seasonal factors are more precise than any other approach. 
C)  forecasts of individual sale force members can be easily combined to get regional or national sales totals. 
D)  no biases exist in the forecasts.

Question 3

_________ is a method of incorporating a trend in an exponentially smoothed forecast.

Accepted Answer

Trend- adj

Question 4

List three quantitative forecasting methods.

Accepted Answer

Three methods are mo

Question 5

A regression is run on data yielding the following information: a = 10.2 , b = - 0.8 , the coefficient of determination = 0.16. Determine the coefficient of linear correlation.

Accepted Answer

r = coefficient of l

Question 6

Sales force estimates are extremely useful for technological forecasting.

Accepted Answer

A) True 
 B)False

Question 7

How are forecast errors classified?

Accepted Answer

Forecast errors are classified as either

Question 8

A backorder is a customer order that cannot be filled immediately but is filled as soon as possible.

Accepted Answer

A) True 
 B)False

Question 9

_________ is the prediction of future events used for planning purposes.

Accepted Answer

The answer of  _________ is the prediction of future...

Question 10

Judgment methods of forecasting should never be used with quantitative forecasting methods.

Accepted Answer

A) True 
 B)False

Question 11

Forecasting capacity needs is not generally considered important for service operations due to not having inventory.

Accepted Answer

A) True 
 B)False

Question 12

Describe the term collaborative planning, forecasting, and replenishment (CPFR).

Accepted Answer

Collaborative planning, forecasting, and

Question 13

So called cyclical patterns involving gradual increases or decreases in demand over long periods of time cannot be predicted with forecasting.

Accepted Answer

A) True 
 B)False

Question 14

The multiplicative seasonal method is most appropriate when the

Accepted Answer

A)  demand each period is a constant multiple of the demand in the previous period. 
B)  seasonal influence is dependent on the level of demand. 
C)  seasonal influence is erratic, changing in the timing of the peaks and valleys. 
D)  seasonal influence is a constant regardless of the level of demand. 
A)  demand each period is a constant multiple of the demand in the previous period. 
B)  seasonal influence is dependent on the level of demand. 
C)  seasonal influence is erratic, changing in the timing of the peaks and valleys. 
D)  seasonal influence is a constant regardless of the level of demand.

Question 15

Table 11.8
A manager wants to forecast the monthly demand
for a machine the company produces.
$\begin{array} { | c | c | } 
\hline \text { Month } & \begin{array} { c } 
\text { No. Machines } \
\text { Sold }
\end{array} \
\hline 1 & 50 \
2 & 65 \
3 & 52 \
4 & 56 \
5 & 55 \
6 & 60 \
\hline
\end{array}$
-Use the information in Table 11.8. Forecast the demand for the machine for month 7, using the three- month moving average method.

Accepted Answer

A)  less than or equal to 56 
B)  greater than 56 but less than or equal to 58 
C)  greater than 58 but less than or equal to 61 
D)  greater than 61 
A)  less than or equal to 56 
B)  greater than 56 but less than or equal to 58 
C)  greater than 58 but less than or equal to 61 
D)  greater than 61

Question 16

Distinguish between a moving average model and an exponential smoothing model.

Accepted Answer

Exponential smoothing is a weighted movi

Question 17

An independent variable is the measure or quantity being forecast in linear regression analysis.

Accepted Answer

A) True 
 B)False

Question 18

A systematic increase or decrease in the mean of a demand time series is referred to as

Accepted Answer

A)  a trend. 
B)  random variation. 
C)  a seasonal pattern. 
D)  a cyclical adjustment. 
A)  a trend. 
B)  random variation. 
C)  a seasonal pattern. 
D)  a cyclical adjustment.

Question 19

_________ forecasts are produced by averaging independent forecasts based on different methods or data or both.

Accepted Answer

The answer of  _________ forecasts are produced by averaging...

Question 20

Time- series analysis is a statistical approach that relies heavily on historical demand data to project the future size of demand.

Accepted Answer

A) True 
 B)False

Which forecasting technique would you consider for technological forecasts?

Using sales force estimates for forecasting has the advantage that

_________ is a method of incorporating a trend in an exponentially smoothed forecast.

List three quantitative forecasting methods.

A regression is run on data yielding the following information: a = 10.2 , b = - 0.8 , the coefficient of determination = 0.16. Determine the coefficient of linear correlation.

Sales force estimates are extremely useful for technological forecasting.

How are forecast errors classified?

A backorder is a customer order that cannot be filled immediately but is filled as soon as possible.

_________ is the prediction of future events used for planning purposes.

Judgment methods of forecasting should never be used with quantitative forecasting methods.

Forecasting capacity needs is not generally considered important for service operations due to not having inventory.

Describe the term collaborative planning, forecasting, and replenishment (CPFR).

So called cyclical patterns involving gradual increases or decreases in demand over long periods of time cannot be predicted with forecasting.

The multiplicative seasonal method is most appropriate when the

Table 11.8 A manager wants to forecast the monthly demand for a machine the company produces. Month No. Machines Sold 1 50 2 65 3 52 4 56 5 55 6 60 -Use the information in Table 11.8. Forecast the demand for the machine for month 7, using the three- month moving average method.

Distinguish between a moving average model and an exponential smoothing model.

An independent variable is the measure or quantity being forecast in linear regression analysis.

A systematic increase or decrease in the mean of a demand time series is referred to as

_________ forecasts are produced by averaging independent forecasts based on different methods or data or both.

Time- series analysis is a statistical approach that relies heavily on historical demand data to project the future size of demand.

Creating Customer Value

Supply Chain Management

Supply Chain Sustainability and Humanitarian Logistics

Process Configuration

Capacity

Waiting Lines

Inventory Management

Quality and Process Improvement

Lean Systems

Location and Layout

Operations Planning and Scheduling

Resource Planning

Filters

Exam 11: Managing Demand and Forecasting

Which forecasting technique would you consider for technological forecasts?

Using sales force estimates for forecasting has the advantage that

_________ is a method of incorporating a trend in an exponentially smoothed forecast.

List three quantitative forecasting methods.

A regression is run on data yielding the following information: a = 10.2 , b = - 0.8 , the coefficient of determination = 0.16. Determine the coefficient of linear correlation.

Sales force estimates are extremely useful for technological forecasting.

How are forecast errors classified?

A backorder is a customer order that cannot be filled immediately but is filled as soon as possible.

_________ is the prediction of future events used for planning purposes.

Judgment methods of forecasting should never be used with quantitative forecasting methods.

Forecasting capacity needs is not generally considered important for service operations due to not having inventory.

Describe the term collaborative planning, forecasting, and replenishment (CPFR).

So called cyclical patterns involving gradual increases or decreases in demand over long periods of time cannot be predicted with forecasting.

The multiplicative seasonal method is most appropriate when the

Table 11.8 A manager wants to forecast the monthly demand for a machine the company produces. Month No. Machines Sold 1 50 2 65 3 52 4 56 5 55 6 60 -Use the information in Table 11.8. Forecast the demand for the machine for month 7, using the three- month moving average method.

Distinguish between a moving average model and an exponential smoothing model.

An independent variable is the measure or quantity being forecast in linear regression analysis.

A systematic increase or decrease in the mean of a demand time series is referred to as

_________ forecasts are produced by averaging independent forecasts based on different methods or data or both.

Time- series analysis is a statistical approach that relies heavily on historical demand data to project the future size of demand.

Creating Customer Value

Supply Chain Management

Supply Chain Sustainability and Humanitarian Logistics

Process Configuration

Capacity

Waiting Lines

Inventory Management

Quality and Process Improvement

Lean Systems

Location and Layout

Operations Planning and Scheduling

Resource Planning

Filters