Question 1

The correlation coefficient is the square root of the coefficient of determination.

Accepted Answer

A) True 
 B)False

Question 2

Seasonal patterns can be exhibited over a quarter,a week,or in hours.

Accepted Answer

A) True 
 B)False

Question 3

Identify the six basic components of demand.

Accepted Answer

Average demand Trend

Question 4

This value can range between -1 and 1.

Accepted Answer

A) Correlation coefficient 
B) Coefficient of determination 
C) Standard error 
D) Predictor equation slope coefficient 
E) Type 1 error 
A) Correlation coefficient 
B) Coefficient of determination 
C) Standard error 
D) Predictor equation slope coefficient 
E) Type 1 error

Question 5

The difference between the forecast and actual demand for a given period is described by what term?

Accepted Answer

A) Forecast error 
B) Real demand 
C) Forecast demand 
D) Bias error 
E) Random error 
A) Forecast error 
B) Real demand 
C) Forecast demand 
D) Bias error 
E) Random error

Question 6

Using many periods of data in a moving average will produce a more stable forecast than using three or four periods.

Accepted Answer

A) True 
 B)False

Question 7

All of the following assume no trend in data except

Accepted Answer

A) Naïve forecast 
B) Moving average 
C) Weighted moving average 
D) Exponential smoothing 
E) Linear regression 
A) Naïve forecast 
B) Moving average 
C) Weighted moving average 
D) Exponential smoothing 
E) Linear regression

Question 8

Random variation is caused by chance events after all other components of demand have been accounted for in the forecast.

Accepted Answer

A) True 
 B)False

Question 9

What is the forecast in period 2 for a product that has experienced several months of sales growth that is expected to continue? The actual demand in period 1 was 27,000 units.Use 0.3 for the smoothing parameter for the average and 0.2 for the smoothing parameter of the trend.The exponentially smoothed average of the trend for the previous period was 1500.The exponentially smoothed average of the series in the previous period was 25,000 units.

Accepted Answer

A₁ = aD₁ + (1 - a)(A₀ + T₀)= 0.3*2

Question 10

For the following data showing actual demand and forecasted demand for each quarter,calculate the MAPE.

Accepted Answer

@#IMG-DLM& MAPE = 16

Question 11

The forecast error for a period is just the actual demand for the period plus the forecast for the period.

Accepted Answer

A) True 
 B)False

Question 12

Describe r,r2,and the standard error of the estimate.

Accepted Answer

The correlation coefficient,r,measures t

Question 13

Seasonal demand is measured in time periods of less than a year.

Accepted Answer

A) True 
 B)False

Question 14

With a moving average,what will be the result of using a 3-day moving average instead of a 12-day moving average?

Accepted Answer

A) A more responsive forecast 
B) A smoothed forecast 
C) A less reactive forecast 
D) A more stable forecast 
E) An unequally weighted forecast 
A) A more responsive forecast 
B) A smoothed forecast 
C) A less reactive forecast 
D) A more stable forecast 
E) An unequally weighted forecast

Question 15

A seasonal index for a given month is computed by dividing each month's demand by what?

Accepted Answer

A) The previous month's demand 
B) The next month's demand 
C) The average annual demand 
D) The slope of the trend line 
E) The value for the month from a year ago 
A) The previous month's demand 
B) The next month's demand 
C) The average annual demand 
D) The slope of the trend line 
E) The value for the month from a year ago

Question 16

Cyclical factors are most similar to what component of demand?

Accepted Answer

A) Seasonal factors 
B) Average demand 
C) Trend 
D) Autocorrelation 
E) Variance 
A) Seasonal factors 
B) Average demand 
C) Trend 
D) Autocorrelation 
E) Variance

Question 17

Preparing an accurate forecast for an aggregated group of similar products is often easier than forecasting for an individual product separately.

Accepted Answer

A) True 
 B)False

Question 18

The local university's student weight room recorded the number of visitors over the previous 5 days.

Accepted Answer

Use exponential smoothing to p

Question 19

Which of the following types of products have a relatively unpredictable demand and are difficult to forecast?

Accepted Answer

A) Mature products 
B) Products with many substitutes 
C) Innovative products 
D) Dead products 
E) Declining products 
A) Mature products 
B) Products with many substitutes 
C) Innovative products 
D) Dead products 
E) Declining products

Question 20

Cyclical factors for demand include all of the following except

Accepted Answer

A) Fashion cycles 
B) Political cycles 
C) Economic cycles 
D) Sociocultural cycles 
E) Lunar cycles 
A) Fashion cycles 
B) Political cycles 
C) Economic cycles 
D) Sociocultural cycles 
E) Lunar cycles

The correlation coefficient is the square root of the coefficient of determination.

Seasonal patterns can be exhibited over a quarter,a week,or in hours.

Identify the six basic components of demand.

This value can range between -1 and 1.

The difference between the forecast and actual demand for a given period is described by what term?

Using many periods of data in a moving average will produce a more stable forecast than using three or four periods.

All of the following assume no trend in data except

Random variation is caused by chance events after all other components of demand have been accounted for in the forecast.

For the following data showing actual demand and forecasted demand for each quarter,calculate the MAPE.

The forecast error for a period is just the actual demand for the period plus the forecast for the period.

Describe r,r²,and the standard error of the estimate.

Seasonal demand is measured in time periods of less than a year.

With a moving average,what will be the result of using a 3-day moving average instead of a 12-day moving average?

A seasonal index for a given month is computed by dividing each month's demand by what?

Cyclical factors are most similar to what component of demand?

Preparing an accurate forecast for an aggregated group of similar products is often easier than forecasting for an individual product separately.

The local university's student weight room recorded the number of visitors over the previous 5 days.

Which of the following types of products have a relatively unpredictable demand and are difficult to forecast?

Cyclical factors for demand include all of the following except

Operations and Supply Chain Strategy

Quality Management

New Product Development

Process Design and Analysis

Independent Demand Inventory

Dependent Demand Inventory

Project Management

Optimization and Simulation Modeling

Capacity Planning

Quality Improvement Methods

Lean Enterprise

Technology and Integrated Supply Management

Global Supply Chain and Service Integration

Filters

Exam 5: Forecasting

The correlation coefficient is the square root of the coefficient of determination.

Seasonal patterns can be exhibited over a quarter,a week,or in hours.

Identify the six basic components of demand.

This value can range between -1 and 1.

The difference between the forecast and actual demand for a given period is described by what term?

Using many periods of data in a moving average will produce a more stable forecast than using three or four periods.

All of the following assume no trend in data except

Random variation is caused by chance events after all other components of demand have been accounted for in the forecast.

For the following data showing actual demand and forecasted demand for each quarter,calculate the MAPE.

The forecast error for a period is just the actual demand for the period plus the forecast for the period.

Describe r,r2,and the standard error of the estimate.

Seasonal demand is measured in time periods of less than a year.

With a moving average,what will be the result of using a 3-day moving average instead of a 12-day moving average?

A seasonal index for a given month is computed by dividing each month's demand by what?

Cyclical factors are most similar to what component of demand?

Preparing an accurate forecast for an aggregated group of similar products is often easier than forecasting for an individual product separately.

The local university's student weight room recorded the number of visitors over the previous 5 days.

Which of the following types of products have a relatively unpredictable demand and are difficult to forecast?

Cyclical factors for demand include all of the following except

Operations and Supply Chain Strategy

Quality Management

New Product Development

Process Design and Analysis

Independent Demand Inventory

Dependent Demand Inventory

Project Management

Optimization and Simulation Modeling

Capacity Planning

Quality Improvement Methods

Lean Enterprise

Technology and Integrated Supply Management

Global Supply Chain and Service Integration

Filters

Describe r,r²,and the standard error of the estimate.