Question 1

A qualitative forecasting technique well-suited for demand forecasts of a new product or service is the:

Accepted Answer

A)  Delphi method. 
B)  build-up forecast. 
C)  life cycle analogy method. 
D)  market survey.

Question 2

A drive-in restaurant has experienced the following customer loads on the past 8 Friday nights.If their forecast for period 7 was 59 customers,then what is their forecast for period number 8 using a smoothing constant of 0.7?

Accepted Answer

A)  61.10 
B)  62.43 
C)  59.90 
D)  60.83

Question 3

A counseling service records the number of calls to their hotline for the last year.What is the forecast for August if the forecast for June was 164 and the service uses exponential smoothing with an alpha of 0.8?

Accepted Answer

A)  164.80 
B)  188.93 
C)  180.67 
D)  175.36

Question 4

Examine these two graphs and based on the demand pattern and axis scaling,recommend a forecasting technique (and the required parameters)that would work best for each one.Justify your recommendations.

Accepted Answer

The answer of Examine these two graphs and based on...

Question 5

Two time series techniques that are appropriate when the data display a strong upward or downward trend are ________ and ________.

Accepted Answer

The answer of Two time series techniques that are appropriate...

Question 6

A tracking signal value between ________ and ________ would suggest that the forecasting technique in use is appropriate.

Accepted Answer

The answer of A tracking signal value between ________ and...

Question 7

Dividing actual demand by the model's forecast yields an index that can be used to adjust for ________ in the data.

Accepted Answer

The answer of Dividing actual demand by the model's forecast...

Question 8

A video game publishing company needs to predict the total sales in the European market for the next year.This is an example of a(n):

Accepted Answer

A)  firm-level demand forecast. 
B)  overall market demand forecast. 
C)  supply forecast. 
D)  price forecast.

Question 9

A poultry farmer that dabbles in statistics is interested in exploring the relationship between two types of feed,layer pellets and scratch,water,and the output of his laying hens.For ten days he records the number of ounces of layer pellets and scratch the hens consume and the number of fluid ounces of water and tracks the number of eggs that are produced.What is his regression equation based on the data?

Accepted Answer

The answer of A poultry farmer that dabbles in statistics...

Exam 9: Forecasting

A qualitative forecasting technique well-suited for demand forecasts of a new product or service is the:

A drive-in restaurant has experienced the following customer loads on the past 8 Friday nights.If their forecast for period 7 was 59 customers,then what is their forecast for period number 8 using a smoothing constant of 0.7?

A counseling service records the number of calls to their hotline for the last year.What is the forecast for August if the forecast for June was 164 and the service uses exponential smoothing with an alpha of 0.8?

Examine these two graphs and based on the demand pattern and axis scaling,recommend a forecasting technique (and the required parameters)that would work best for each one.Justify your recommendations.

Two time series techniques that are appropriate when the data display a strong upward or downward trend are and .

A tracking signal value between and would suggest that the forecasting technique in use is appropriate.

Dividing actual demand by the model's forecast yields an index that can be used to adjust for ________ in the data.

A video game publishing company needs to predict the total sales in the European market for the next year.This is an example of a(n) :