Question 1

What is the forecast for May using a four-month moving average?

Accepted Answer

A)  38 
B)  42 
C)  43 
D)  44 
E)  47 
A)  38 
B)  42 
C)  43 
D)  44 
E)  47

Question 2

The quarterly "make meeting" of Lexus dealers is an example of a sales force composite forecast.

Accepted Answer

A) True 
 B)False

Question 3

Use exponential smoothing with trend adjustment to forecast deliveries for period 10. Let alpha = 0.4, beta = 0.2, and let the initial trend value be 4 and the initial forecast be 200.

Accepted Answer

The answer of Use exponential smoothing with trend adjustment to...

Question 4

A management analyst is using exponential smoothing to predict merchandise returns at an upscale branch of a department store chain. Given an actual number of returns of 154 items in the most recent period completed, a forecast of 172 items for that period, and a smoothing constant of 0.3, what is the forecast for the next period? How would the forecast be changed if the smoothing constant were 0.6? Explain the difference in terms of alpha and responsiveness.

Accepted Answer

166.6; 161.2 The larger the sm

Question 5

Weekly sales of copy paper at Cubicle Suppliers are provided in the table below. Compute a three-period moving average and a four-period moving average for weeks 5, 6, and 7. Compute the MAD for both forecasting methods. Which model is more accurate? Forecast week 8 with the more accurate method.
Week Sales (cases)
1 17
2 21
3 26
4 18
5 29
6 17
7 21

Accepted Answer

@#IMG-DLM& The MAD for the 3-week moving average i

Question 6

For a given product demand, the time-series trend equation is 53 - 4x. The negative sign on the slope of the equation:

Accepted Answer

A)  is a mathematical impossibility. 
B)  is an indication that the forecast is biased, with forecast values lower than actual values. 
C)  is an indication that product demand is declining. 
D)  implies that the coefficient of determination will also be negative. 
E)  implies that the cumulative error will be negative. 
A)  is a mathematical impossibility. 
B)  is an indication that the forecast is biased, with forecast values lower than actual values. 
C)  is an indication that product demand is declining. 
D)  implies that the coefficient of determination will also be negative. 
E)  implies that the cumulative error will be negative.

Question 7

Which of the following values of alpha would cause exponential smoothing to respond the QUICKEST to changes in demand data?

Accepted Answer

A)  0.10 
B)  0.2246 
C)  0.50 
D)  0.90 
E)  cannot be determined 
A)  0.10 
B)  0.2246 
C)  0.50 
D)  0.90 
E)  cannot be determined

Question 8

Given the following data, calculate the five-year moving averages for years 6 through 10.

Accepted Answer

The answer of Given the following data, calculate the five-year...

Question 9

Which of the following is NOT a characteristic of exponential smoothing?

Accepted Answer

A)  smooths random variations in the data 
B)  uses an easily altered weighting scheme 
C)  weights each historical value equally 
D)  has minimal data storage requirements 
E)  uses the previous period's forecast 
A)  smooths random variations in the data 
B)  uses an easily altered weighting scheme 
C)  weights each historical value equally 
D)  has minimal data storage requirements 
E)  uses the previous period's forecast

Question 10

A good tracking signal has about as much positive error as it has negative error.

Accepted Answer

A) True 
 B)False

Question 11

What is focus forecasting?

Accepted Answer

It is a forecasting method tha

Question 12

The department manager using a combination of methods has forecast sales of toasters at a local department store. Calculate the MAPE for the manager's forecast. Compare the manager's forecast against a naive forecast covering the same time period. Which is better?

Accepted Answer

@#IMG-DLM& The manager's forecast has a

Question 13

A forecast with a time horizon of about 3 months to 3 years is typically called a:

Accepted Answer

A)  long-range forecast. 
B)  medium-range forecast. 
C)  short-range forecast. 
D)  weather forecast. 
E)  strategic forecast. 
A)  long-range forecast. 
B)  medium-range forecast. 
C)  short-range forecast. 
D)  weather forecast. 
E)  strategic forecast.

Question 14

Describe the three forecasting time horizons and their use.

Accepted Answer

Forecasting time horizons are: short ran

Question 15

A measure of forecast error that does not depend upon the magnitude of the item being forecast is the ________.

Accepted Answer

mean absol

Question 16

What is a tracking signal? Explain the connection between adaptive smoothing and tracking signals.

Accepted Answer

A tracking signal is a measure of how we

Question 17

________ forecasting tries a variety of computer models and selects the best one for a particular application.

Accepted Answer

The answer of ________ forecasting tries a variety of computer...

Question 18

Forecasts of individual products tend to be less accurate than forecasts of product families.

Accepted Answer

A) True 
 B)False

Question 19

A trend projection equation with a slope of 0.78 means that there is a 0.78 unit rise in Y per period.

Accepted Answer

A) True 
 B)False

Question 20

A good tracking signal has no positive or negative error.

Accepted Answer

A) True 
 B)False

Exam 4: Forecasting

What is the forecast for May using a four-month moving average?

The quarterly "make meeting" of Lexus dealers is an example of a sales force composite forecast.

Use exponential smoothing with trend adjustment to forecast deliveries for period 10. Let alpha = 0.4, beta = 0.2, and let the initial trend value be 4 and the initial forecast be 200.

For a given product demand, the time-series trend equation is 53 - 4x. The negative sign on the slope of the equation:

Which of the following values of alpha would cause exponential smoothing to respond the QUICKEST to changes in demand data?

Given the following data, calculate the five-year moving averages for years 6 through 10.

Which of the following is NOT a characteristic of exponential smoothing?

A good tracking signal has about as much positive error as it has negative error.

What is focus forecasting?

The department manager using a combination of methods has forecast sales of toasters at a local department store. Calculate the MAPE for the manager's forecast. Compare the manager's forecast against a naive forecast covering the same time period. Which is better?

A forecast with a time horizon of about 3 months to 3 years is typically called a:

Describe the three forecasting time horizons and their use.

A measure of forecast error that does not depend upon the magnitude of the item being forecast is the ________.

What is a tracking signal? Explain the connection between adaptive smoothing and tracking signals.

________ forecasting tries a variety of computer models and selects the best one for a particular application.

Forecasts of individual products tend to be less accurate than forecasts of product families.

A trend projection equation with a slope of 0.78 means that there is a 0.78 unit rise in Y per period.

A good tracking signal has no positive or negative error.

Operations and Productivity

Operations Strategy in a Global Environment

Project Management

Design of Goods and Services

Managing Quality

Process Strategies

Location Strategies

Human Resources, Job Design, and Work Measurement

Supply Chain Management

Inventory Management

Aggregate Planning and Sop

Material Requirements Planning Mrp and Erp

Short-Term Scheduling

Lean Operations

Maintenance and Reliability

Decision-Making Tools

Linear Programming

Transportation Models

Waiting-Line Models

Learning Curves

Simulation

Applying Analytics to Big Data in Operations Management

Filters