Question 1

Which of the following is not an example of forecasts being used in a business organization?

Accepted Answer

A) how the organization should be structured 
B) equipment replacement needs 
C) timing and amount of funding needs 
D) hiring activities 
E) pricing and promotion 
A) how the organization should be structured 
B) equipment replacement needs 
C) timing and amount of funding needs 
D) hiring activities 
E) pricing and promotion

Question 2

Which of the following features would not generally be considered common to all forecasts?

Accepted Answer

A) Assumption of a stable underlying causal system. 
B) Actual results will differ somewhat from predicted values. 
C) Historical data is available on which to base the forecast. 
D) Forecasts for groups of items tend to be more accurate than forecasts for individual items. 
E) Accuracy decreases as the time horizon increases. 
A) Assumption of a stable underlying causal system. 
B) Actual results will differ somewhat from predicted values. 
C) Historical data is available on which to base the forecast. 
D) Forecasts for groups of items tend to be more accurate than forecasts for individual items. 
E) Accuracy decreases as the time horizon increases.

Question 3

A concert promoter is forecasting this year's attendance for one of his concerts based on the following historical data:
 
What is this year's forecast using exponential smoothing with alpha = 0.2, if last year's smoothed forecast was 15,000?

Accepted Answer

A) 20,000 
B) 19,000 
C) 17,500 
D) 16,000 
E) 15,000 
A) 20,000 
B) 19,000 
C) 17,500 
D) 16,000 
E) 15,000

Question 4

A forecast method is generally deemed to perform adequately when the errors exhibit an identifiable pattern.

Accepted Answer

A) True 
 B)False

Which of the following is not an example of forecasts being used in a business organization?

Which of the following features would not generally be considered common to all forecasts?

A concert promoter is forecasting this year's attendance for one of his concerts based on the following historical data: What is this year's forecast using exponential smoothing with alpha = 0.2, if last year's smoothed forecast was 15,000?

A forecast method is generally deemed to perform adequately when the errors exhibit an identifiable pattern.

Introduction to Operations Management

Competitiveness, Strategy, and Productivity

Product and Service Design

Strategic Capacity Planning for Products and Services

Process Selection and Facility Layout

Work Design and Measurement

Location Planning and Analysis

Management of Quality

Quality Control

Aggregate Planning and Master Scheduling

Inventory Management

MRP and ERP

Jit and Lean Operations

Supply Chain Management

Scheduling

Project Management

Management of Waiting Lines

Linear Programming

Filters

Exam 3: Forecasting

Which of the following is not an example of forecasts being used in a business organization?

Which of the following features would not generally be considered common to all forecasts?

A concert promoter is forecasting this year's attendance for one of his concerts based on the following historical data: What is this year's forecast using exponential smoothing with alpha = 0.2, if last year's smoothed forecast was 15,000?

A forecast method is generally deemed to perform adequately when the errors exhibit an identifiable pattern.

Introduction to Operations Management

Competitiveness, Strategy, and Productivity

Product and Service Design

Strategic Capacity Planning for Products and Services

Process Selection and Facility Layout

Work Design and Measurement

Location Planning and Analysis

Management of Quality

Quality Control

Aggregate Planning and Master Scheduling

Inventory Management

MRP and ERP

Jit and Lean Operations

Supply Chain Management

Scheduling

Project Management

Management of Waiting Lines

Linear Programming

Filters