Question 1

Given the following demand data for the past five months,the four-period moving average forecast for June is

Accepted Answer

A) 96.25. 
B) 99.00. 
C) 110.00. 
D) 93.75. 
A) 96.25. 
B) 99.00. 
C) 110.00. 
D) 93.75. D

Question 2

The moving average method is used for creating forecasts when there is no variation in demand.

Accepted Answer

A) True 
 B)False  False

Question 3

The type of forecasting method used depends entirely on whether the supply chain is continuous replenishment or not.

Accepted Answer

A) True 
 B)False  False

Question 4

(Use the following information for the next five problems. )
The owner of Koffi,the sole coffee house located in a resort area,wants to develop a forecast based on the relationship between tourism and coffee drinks sold.He has generated the following data over the past 12 months:
   The data from using Data Analysis on Excel is as follows:
  
-What is the approximate intercept,a?

Accepted Answer

A) −11.6 
B) 11.6 
C) 6.4 
D) −6.4 
A) −11.6 
B) 11.6 
C) 6.4 
D) −6.4

Question 5

An exponential smoothing forecasting technique requires all of the following except

Accepted Answer

A) the forecast for the current period. 
B) the actual demand for the current period. 
C) a smoothing constant. 
D) large amounts of historical demand data. 
A) the forecast for the current period. 
B) the actual demand for the current period. 
C) a smoothing constant. 
D) large amounts of historical demand data.

Question 6

A mathematical technique for forecasting that relates the dependent variable to an independent variable is

Accepted Answer

A) correlation analysis. 
B) exponential smoothing. 
C) linear regression. 
D) weighted moving average. 
A) correlation analysis. 
B) exponential smoothing. 
C) linear regression. 
D) weighted moving average.

Question 7

The type of forecasting method selected depends on time frame,demand behavior,and causes of behavior.

Accepted Answer

A) True 
 B)False

Question 8

The most common type of forecasting method for long-term strategic planning is based on quantitative modeling

Accepted Answer

A) True 
 B)False

Question 9

One way to deal with the bullwhip effect is to develop and share the forecasts with other supply chain members.

Accepted Answer

A) True 
 B)False

Question 10

Given the demand and forecast values shown in the table below,   the exponential smoothing forecast for November using α = 0.35 is

Accepted Answer

A) 552.45. 
B) 553.50. 
C) 554.55. 
D) 557.50. 
A) 552.45. 
B) 553.50. 
C) 554.55. 
D) 557.50.

Question 11

For the demand values and the January forecast shown in the table below the exponential smoothing forecast for March using α = 0.30 is

Accepted Answer

A) 489. 
B) 486. 
C) 483. 
D) 480. 
A) 489. 
B) 486. 
C) 483. 
D) 480.

Question 12

In ___________________ replenishment,the supplier and customer care continuously update data.

Accepted Answer

A) demand 
B) ongoing 
C) continuous 
D) forecasted 
A) demand 
B) ongoing 
C) continuous 
D) forecasted

Question 13

Because of advances in technology,many service industries no longer require accurate forecasts to provide high quality service.

Accepted Answer

A) True 
 B)False

Question 14

Correlation in linear regression is a measure of the strength of the relationship between the dependent variable,demand,and an independent (explanatory)variable.

Accepted Answer

A) True 
 B)False

Question 15

A forecasting model has produced the following forecasts:   The mean absolute deviation (MAD)for the end of May is

Accepted Answer

A) 7.0. 
B) 7.5. 
C) 10.0. 
D) 3.0 
A) 7.0. 
B) 7.5. 
C) 10.0. 
D) 3.0

Question 16

A gradual,long-term up or down movement of demand over time is referred to as a trend.

Accepted Answer

A) True 
 B)False

Question 17

Time series methods use historical data to predict future demand.

Accepted Answer

A) True 
 B)False

Question 18

Compare and contrast short-mid-range forecasts and long-range forecasts.

Accepted Answer

Forecasts are either short-to mid-range,

Question 19

Given the demand and forecast values shown in the table below,   the forecast error for September is

Accepted Answer

A) 10.00. 
B) −10.00. 
C) 1.00. 
D) 39.00. 
A) 10.00. 
B) −10.00. 
C) 1.00. 
D) 39.00.

Question 20

A long-range forecast would normally not be used to

Accepted Answer

A) design the supply chain. 
B) implement strategic programs. 
C) determine production schedules. 
D) plan new products for changing markets. 
A) design the supply chain. 
B) implement strategic programs. 
C) determine production schedules. 
D) plan new products for changing markets.

Exam 17: Forecasting

Given the following demand data for the past five months,the four-period moving average forecast for June is

The moving average method is used for creating forecasts when there is no variation in demand.

The type of forecasting method used depends entirely on whether the supply chain is continuous replenishment or not.

An exponential smoothing forecasting technique requires all of the following except

A mathematical technique for forecasting that relates the dependent variable to an independent variable is

The type of forecasting method selected depends on time frame,demand behavior,and causes of behavior.

The most common type of forecasting method for long-term strategic planning is based on quantitative modeling

One way to deal with the bullwhip effect is to develop and share the forecasts with other supply chain members.

Given the demand and forecast values shown in the table below, the exponential smoothing forecast for November using α = 0.35 is

For the demand values and the January forecast shown in the table below the exponential smoothing forecast for March using α = 0.30 is

In ___________________ replenishment,the supplier and customer care continuously update data.

Because of advances in technology,many service industries no longer require accurate forecasts to provide high quality service.

Correlation in linear regression is a measure of the strength of the relationship between the dependent variable,demand,and an independent (explanatory)variable.

A forecasting model has produced the following forecasts: The mean absolute deviation (MAD)for the end of May is

A gradual,long-term up or down movement of demand over time is referred to as a trend.

Time series methods use historical data to predict future demand.

Compare and contrast short-mid-range forecasts and long-range forecasts.

Given the demand and forecast values shown in the table below, the forecast error for September is

A long-range forecast would normally not be used to

Introduction to Operations and Supply Chain Management

Supplement Operational Decision-Making Tools: Decision Analysis

Quality Management

Statistical Process Control

Supplement Operational Decision-Making Tools: Acceptance Sampling

Product Design

Service Design

Processes and Technology

Capacity and Facilities

Supplement Operational Decision-Making Tools: Facility Location Models

Human Resources

Supplement Operational Decision-Making Tools: Work Measurement

Project Management

Supply Chain Management Strategy and Design

Global Supply Chain Procurement and Distribution

Supplement Operational Decision-Making Tools: Transportation and Transshipment Models

Inventory Management

Supplement Operational Decision-Making Tools: Simulation

Sales and Operations Planning

Supplement Operational Decision-Making Tools: Linear Programming

Enterprise Resource Planning

Lean Systems

Scheduling

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