Question 1

Sophisticated forecasting models using massive computing power allow companies to produce exact forecasts.

Accepted Answer

A) True 
 B)False

Question 2

Why would someone select a causal model over time series or qualitative models for forecasting?

Accepted Answer

The forecaster must identify t

Question 3

Develop seasonal indices for each quarter for the following demand data:

Accepted Answer

The answer of Develop seasonal indices for each quarter for...

Question 4

Briefly explain what effect including more periods will have on a moving average.

Accepted Answer

The more values included in th

Question 5

In exponential smoothing,a small value of alpha will produce a more responsive forecast than a large alpha value.

Accepted Answer

A) True 
 B)False

Question 6

Weighted moving average and exponential smoothing both account for trends in the data being forecasted.

Accepted Answer

A) True 
 B)False

Question 7

Linear regression models can only include one independent variable.

Accepted Answer

A) True 
 B)False

Question 8

What term describes demand that is characterized by regular repletion of increases or decreases in demand as measured in time periods of less than a year?

Accepted Answer

A) Seasonality 
B) Exponential 
C) Trend 
D) Autocorrelation 
E) Variance 
A) Seasonality 
B) Exponential 
C) Trend 
D) Autocorrelation 
E) Variance

Question 9

In a 5-period weighted moving average forecast for period t + 1,which period will have the most weight?

Accepted Answer

A) Period t 
B) Period t - 1 
C) Period t - 2 
D) Period t - 3 
E) Period t - 4 
A) Period t 
B) Period t - 1 
C) Period t - 2 
D) Period t - 3 
E) Period t - 4

Question 10

Which of the following alpha values will have the most responsive forecast?

Accepted Answer

A) 0 
B) 0.2 
C) 0.4 
D) 0.6 
E) 0.8 
A) 0 
B) 0.2 
C) 0.4 
D) 0.6 
E) 0.8

Question 11

Which of the following is not a component of demand?

Accepted Answer

A) Trend 
B) Seasonal component 
C) Cyclical component 
D) Depreciation 
E) Random variation 
A) Trend 
B) Seasonal component 
C) Cyclical component 
D) Depreciation 
E) Random variation

Question 12

In the exponential smoothing model,what is the effect of the size of alpha on the forecast?

Accepted Answer

The weight given to the most recent peri

Question 13

The benefit of a weighted moving average is that it allows a greater emphasis on the past demand than most recent periods.

Accepted Answer

A) True 
 B)False

Question 14

A 7-day moving average will be more responsive than a 3-day moving average.

Accepted Answer

A) True 
 B)False

Question 15

The local university's student weight room recorded the number of visitors over the previous 5 days.
   What would a 3-day moving average forecast be for the 6th day?

Accepted Answer

F₆ = (43 +

Question 16

Quantitative techniques for forecasting are based on subjective factors,estimates,and opinions.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

The answer of For the following data showing actual demand...

Question 18

Radio frequency identification has no additional advantages over bar codes.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is not a common method for influencing seasonality?

Accepted Answer

A) Extend the selling season 
B) Advertising after the peak season 
C) Discounting during the low-demand periods 
D) Special promotions during nonpeak periods 
E) Making complementary products 
A) Extend the selling season 
B) Advertising after the peak season 
C) Discounting during the low-demand periods 
D) Special promotions during nonpeak periods 
E) Making complementary products

Question 20

When the seasonal index value is 1,what is the interpretation of the value?

Accepted Answer

A) Seasonality increases demand in this period. 
B) Seasonality has no effect on demand in this period. 
C) Seasonality decreases demand in this period. 
D) Seasonality increases demand by 1 unit. 
E) Seasonality decreases demand by 1 unit. 
A) Seasonality increases demand in this period. 
B) Seasonality has no effect on demand in this period. 
C) Seasonality decreases demand in this period. 
D) Seasonality increases demand by 1 unit. 
E) Seasonality decreases demand by 1 unit.

Sophisticated forecasting models using massive computing power allow companies to produce exact forecasts.

Why would someone select a causal model over time series or qualitative models for forecasting?

Develop seasonal indices for each quarter for the following demand data:

Briefly explain what effect including more periods will have on a moving average.

In exponential smoothing,a small value of alpha will produce a more responsive forecast than a large alpha value.

Weighted moving average and exponential smoothing both account for trends in the data being forecasted.

Linear regression models can only include one independent variable.

What term describes demand that is characterized by regular repletion of increases or decreases in demand as measured in time periods of less than a year?

In a 5-period weighted moving average forecast for period t + 1,which period will have the most weight?

Which of the following alpha values will have the most responsive forecast?

Which of the following is not a component of demand?

In the exponential smoothing model,what is the effect of the size of alpha on the forecast?

The benefit of a weighted moving average is that it allows a greater emphasis on the past demand than most recent periods.

A 7-day moving average will be more responsive than a 3-day moving average.

The local university's student weight room recorded the number of visitors over the previous 5 days. What would a 3-day moving average forecast be for the 6th day?

Quantitative techniques for forecasting are based on subjective factors,estimates,and opinions.

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

Radio frequency identification has no additional advantages over bar codes.

Which of the following is not a common method for influencing seasonality?

When the seasonal index value is 1,what is the interpretation of the value?

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

Sophisticated forecasting models using massive computing power allow companies to produce exact forecasts.

Why would someone select a causal model over time series or qualitative models for forecasting?

Develop seasonal indices for each quarter for the following demand data:

Briefly explain what effect including more periods will have on a moving average.

In exponential smoothing,a small value of alpha will produce a more responsive forecast than a large alpha value.

Weighted moving average and exponential smoothing both account for trends in the data being forecasted.

Linear regression models can only include one independent variable.

What term describes demand that is characterized by regular repletion of increases or decreases in demand as measured in time periods of less than a year?

In a 5-period weighted moving average forecast for period t + 1,which period will have the most weight?

Which of the following alpha values will have the most responsive forecast?

Which of the following is not a component of demand?

In the exponential smoothing model,what is the effect of the size of alpha on the forecast?

The benefit of a weighted moving average is that it allows a greater emphasis on the past demand than most recent periods.

A 7-day moving average will be more responsive than a 3-day moving average.

The local university's student weight room recorded the number of visitors over the previous 5 days. What would a 3-day moving average forecast be for the 6th day?

Quantitative techniques for forecasting are based on subjective factors,estimates,and opinions.

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

Radio frequency identification has no additional advantages over bar codes.

Which of the following is not a common method for influencing seasonality?

When the seasonal index value is 1,what is the interpretation of the value?

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