Question 1

Which time-series model below assumes that demand in the next period will be equal to the most recent period's demand?

Accepted Answer

A) naïve approach 
B) moving average approach 
C) weighted moving average approach 
D) exponential smoothing approach 
E) trend projection 
A) naïve approach 
B) moving average approach 
C) weighted moving average approach 
D) exponential smoothing approach 
E) trend projection

Question 2

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

Accepted Answer

The answer of Simple ________ forecasts only work well if...

Question 3

The larger the standard error of the estimate,the more accurate the forecasting model.

Accepted Answer

A) True 
 B)False

Question 4

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.

Accepted Answer

The answer of Use exponential smoothing with trend adjustment to...

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

A forecast based on the previous forecast plus a percentage of the forecast error is a(n):

Accepted Answer

A) qualitative forecast. 
B) naive forecast. 
C) moving average forecast. 
D) weighted moving average forecast. 
E) exponential smoothing forecast. 
A) qualitative forecast. 
B) naive forecast. 
C) moving average forecast. 
D) weighted moving average forecast. 
E) exponential smoothing forecast.

Question 7

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

Accepted Answer

A) seasonality 
B) operational variations 
C) trend 
D) cycles 
E) random variations 
A) seasonality 
B) operational variations 
C) trend 
D) cycles 
E) random variations

Question 8

________ 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 9

Compare seasonal effects and cyclical effects.

Accepted Answer

A cycle is longer (typically several yea

Question 10

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 11

Describe the three forecasting time horizons and their use.

Accepted Answer

Forecasting time horizons are: short ran

Question 12

A six-month moving average forecast is generally better than a three-month moving average forecast if demand:

Accepted Answer

A) is rather stable. 
B) has been changing due to recent promotional efforts. 
C) follows a downward trend. 
D) exceeds one million units per year. 
E) follows an upward trend. 
A) is rather stable. 
B) has been changing due to recent promotional efforts. 
C) follows a downward trend. 
D) exceeds one million units per year. 
E) follows an upward trend.

Question 13

Linear-regression analysis is a straight-line mathematical model to describe the functional relationships between independent and dependent variables.

Accepted Answer

A) True 
 B)False

Question 14

The fundamental difference between cycles and seasonality is the:

Accepted Answer

A) duration of the repeating patterns. 
B) magnitude of the variation. 
C) ability to attribute the pattern to a cause. 
D) all of the above 
E) none of the above 
A) duration of the repeating patterns. 
B) magnitude of the variation. 
C) ability to attribute the pattern to a cause. 
D) all of the above 
E) none of the above

Question 15

What are the three realities of forecasting that companies face?

Accepted Answer

First,outside factors that we cannot pre

Question 16

Many services maintain records of sales noting:

Accepted Answer

A) the day of the week. 
B) unusual events. 
C) the weather. 
D) holiday impacts. 
E) all of the above. 
A) the day of the week. 
B) unusual events. 
C) the weather. 
D) holiday impacts. 
E) all of the above.

Question 17

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 18

Regression lines graphically depict "cause-and-effect" relationships.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A) be less accurate than 
B) be more accurate than 
C) have about the same level of accuracy as 
D) employ the same methodologies as 
E) deal with more comprehensive issues than 
A) be less accurate than 
B) be more accurate than 
C) have about the same level of accuracy as 
D) employ the same methodologies as 
E) deal with more comprehensive issues than

Question 20

Cycles and random variations are both components of time series.

Accepted Answer

A) True 
 B)False

Exam 4: Forecasting

Which time-series model below assumes that demand in the next period will be equal to the most recent period's demand?

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

The larger the standard error of the estimate,the more accurate the forecasting model.

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.

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

A forecast based on the previous forecast plus a percentage of the forecast error is a(n):

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

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

Compare seasonal effects and cyclical effects.

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

Describe the three forecasting time horizons and their use.

A six-month moving average forecast is generally better than a three-month moving average forecast if demand:

Linear-regression analysis is a straight-line mathematical model to describe the functional relationships between independent and dependent variables.

The fundamental difference between cycles and seasonality is the:

What are the three realities of forecasting that companies face?

Many services maintain records of sales noting:

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

Regression lines graphically depict "cause-and-effect" relationships.

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

Cycles and random variations are both components of time series.

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