Question 1

________ forecasts use a series of past data points to make a forecast.

Accepted Answer

The answer of ________ forecasts use a series of past...

Question 2

Which of the following is NOT a step in the forecasting process?

Accepted Answer

A) Determine the use of the forecast. 
B) Eliminate any assumptions. 
C) Determine the time horizon of the forecast. 
D) Select the forecasting model. 
E) Validate and implement the results. 
A) Determine the use of the forecast. 
B) Eliminate any assumptions. 
C) Determine the time horizon of the forecast. 
D) Select the forecasting model. 
E) Validate and implement the results.

Question 3

In trend projection,a negative regression slope is mathematically impossible.

Accepted Answer

A) True 
 B)False

Question 4

If two variables were perfectly correlated,what would the coefficient of correlation r equal?

Accepted Answer

A) 0 
B) -1 
C) 1 
D) B or C 
E) none of the above 
A) 0 
B) -1 
C) 1 
D) B or C 
E) none of the above

Question 5

Name and discuss three qualitative forecasting methods.

Accepted Answer

Qualitative forecasting methods include:

Question 6

Linear regression is known as a(n)________ model because it incorporates variables or factors that might influence the quantity being forecast.

Accepted Answer

associativ

Question 7

Given an actual demand this period of 103,a forecast value for this period of 99,and an alpha of .4,what is the exponential smoothing forecast for next period?

Accepted Answer

A) 94.6 
B) 97.4 
C) 100.6 
D) 101.6 
E) 103.0 
A) 94.6 
B) 97.4 
C) 100.6 
D) 101.6 
E) 103.0

Question 8

Which of the following uses three types of participants: decision makers,staff personnel,and respondents?

Accepted Answer

A) jury of executive opinion 
B) sales force composite 
C) Delphi method 
D) associative models 
E) time series 
A) jury of executive opinion 
B) sales force composite 
C) Delphi method 
D) associative models 
E) time series

Question 9

Demand for individual products can be driven by product life cycles.

Accepted Answer

A) True 
 B)False

Question 10

The tracking signal is the:

Accepted Answer

A) standard error of the estimate. 
B) absolute deviation of the last period's forecast. 
C) MAD. 
D) ratio of cumulative error / MAD. 
E) MAPE. 
A) standard error of the estimate. 
B) absolute deviation of the last period's forecast. 
C) MAD. 
D) ratio of cumulative error / MAD. 
E) MAPE.

Question 11

________ forecasts are concerned with rates of technological progress,which can result in the birth of exciting new products,requiring new plants and equipment.

Accepted Answer

The answer of ________ forecasts are concerned with rates of...

Question 12

________ is a time-series forecasting method that fits a trend line to a series of historical data points and then projects the line into the future for forecasts.

Accepted Answer

The answer of ________ is a time-series forecasting method that...

Question 13

The sales force composite forecasting method relies on salespersons' estimates of expected sales.

Accepted Answer

A) True 
 B)False

Question 14

________ 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 15

A time-series model uses a series of past data points to make the forecast.

Accepted Answer

A) True 
 B)False

Question 16

The degree or strength of a relationship between two variables is shown by the:

Accepted Answer

A) alpha. 
B) mean. 
C) mean absolute deviation. 
D) coefficient of correlation. 
E) cumulative error. 
A) alpha. 
B) mean. 
C) mean absolute deviation. 
D) coefficient of correlation. 
E) cumulative error.

Question 17

The larger the number of periods in the simple moving average forecasting method,the greater the method's responsiveness to changes in demand.

Accepted Answer

A) True 
 B)False

Question 18

Mean squared error and exponential smoothing are two measures of the overall error of a forecasting model.

Accepted Answer

A) True 
 B)False

Question 19

As compared to long-range forecasts,short-range forecasts:

Accepted Answer

A) are less accurate. 
B) deal with less comprehensive issues supporting management decisions. 
C) employ similar methodologies. 
D) all of the above 
E) none of the above 
A) are less accurate. 
B) deal with less comprehensive issues supporting management decisions. 
C) employ similar methodologies. 
D) all of the above 
E) none of the above

Question 20

The department manager using a combination of methods has forecast sales of toasters at a local department store.Calculate the MAD 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

Exam 4: Forecasting

________ forecasts use a series of past data points to make a forecast.

Which of the following is NOT a step in the forecasting process?

In trend projection,a negative regression slope is mathematically impossible.

If two variables were perfectly correlated,what would the coefficient of correlation r equal?

Name and discuss three qualitative forecasting methods.

Linear regression is known as a(n)________ model because it incorporates variables or factors that might influence the quantity being forecast.

Given an actual demand this period of 103,a forecast value for this period of 99,and an alpha of .4,what is the exponential smoothing forecast for next period?

Which of the following uses three types of participants: decision makers,staff personnel,and respondents?

Demand for individual products can be driven by product life cycles.

The tracking signal is the:

________ forecasts are concerned with rates of technological progress,which can result in the birth of exciting new products,requiring new plants and equipment.

________ is a time-series forecasting method that fits a trend line to a series of historical data points and then projects the line into the future for forecasts.

The sales force composite forecasting method relies on salespersons' estimates of expected sales.

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

A time-series model uses a series of past data points to make the forecast.

The degree or strength of a relationship between two variables is shown by the:

The larger the number of periods in the simple moving average forecasting method,the greater the method's responsiveness to changes in demand.

Mean squared error and exponential smoothing are two measures of the overall error of a forecasting model.

As compared to long-range forecasts,short-range forecasts:

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

Operations and Productivity

Operations Strategy in a Global Environment

Project Management

Design of Goods and Services

Managing Quality

Process Strategy

Capacity and Constraint Management

Location Strategies

Layout Strategies

Human Resources, job Design, and Work Measurement

Supply Chain Management

Inventory Management

Aggregate Planning and Sop

Material Requirements Planning Mrpand Erp

Short-Term Scheduling

Jit, tps, and Lean Operations

Maintenance and Reliability

Sustainability in the Supply Chain

Statistical Process Control

Supply Chain Management Analytics

Decision-Making Tools

Linear Programming

Transportation Models

Waiting-Line Models

Learning Curves

Simulation

Filters