Exam 4: Forecasting

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.

Describe the three forecasting time horizons and their use.

Simple ________ forecasts only work well if we can assume that market demands will stay fairly steady over time.

The fundamental difference between cycles and seasonality is the:

What are the three realities of forecasting that companies face?

________ forecasts employ one or more mathematical models that rely on historical data and/or associative variables to forecast demand.

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

Forecasts used for new product planning,capital expenditures,facility location or expansion,and R&D typically utilize a:

The three major types of forecasts used by organizations in planning future operations are:

If a barbershop operator noted that Tuesday's business was typically twice as heavy as Wednesday's,and that Friday's business was typically the busiest of the week,business at the barbershop is subject to ________.

Given the following data,calculate the three-year moving averages for years 4 through 10.

Which of the following is not present in a time series?

Which of the following is TRUE regarding the two smoothing constants of the Forecast Including Trend (FIT)model?

The last four weekly values of sales were 80,100,105,and 90 units.The last four forecasts were 60,80,95,and 75 units.These forecasts illustrate:

Short-range forecasts tends to ________ longer-range forecasts.

Cycles and random variations are both components of time series.

In time series,which of the following cannot be predicted?

The two general approaches to forecasting are:

A skeptical manager asks what short-range forecasts can be used for.Give her three possible uses/purposes.

A forecasting method has produced the following over the past five months.What is the mean absolute deviation?