Question 1

Given forecast errors of 4,8,and -3,what is the mean absolute deviation?

Accepted Answer

A)  4
B)  3
C)  5
D)  6
E)  12F) A) and C)
G) C) and E)

Question 2

Given the following data,develop a linear regression model for y as a function of x.
 11eab92b_c4ad_fbc1_99e6_a1c18f1b2fa2

Accepted Answer

_TB6896_00 (i)Y_C = -0...

Question 3

The dean of a school of business is forecasting total student enrolment for this year's summer session classes based on the following historical data:  What is this year's forecast using exponential smoothing with alpha = .4,if last year's smoothed forecast was 2600?

Accepted Answer

A)  2,600
B)  2,760
C)  2,800
D)  3,840
E)  3,000F) A) and B)
G) A) and C)

Question 4

Trend adjusted exponential smoothing requires selection of two smoothing constants.

Accepted Answer

A) True 
 B)False

Question 5

Moving average and exponential smoothing forecasting techniques are used for long range forecasts.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is not part of determining the purpose of the forecast?

Accepted Answer

A)  The level of detail required in the forecast
B)  The amount of personnel that can be justified
C)  The level of accuracy required
D)  The forecasting time interval
E)  The amount of dollars that can be justifiedF) None of the above
G) A) and B)

Question 7

Given an actual demand of 105,a predicted value of 97,and an alpha of .4,the simple exponential smoothing forecast for the next period would be:

Accepted Answer

A)  80.8
B)  93.8
C)  100.2
D)  101.8
E)  108.2F) A) and E)
G) All of the above

Question 8

Using the latest observation in a sequence of data to forecast the next period is:

Accepted Answer

A)  a moving average forecast.
B)  a naive forecast.
C)  an exponentially smoothed forecast.
D)  an associative forecast.
E)  a judgmental forecast.F) C) and D)
G) A) and E)

Question 9

Persistent upward or downward movement in time series data is called:

Accepted Answer

A)  seasonal variation.
B)  cycles.
C)  irregular variation.
D)  trend.
E)  random variation.F) B) and D)
G) A) and C)

Question 10

Positive forecast errors mean that the forecast:

Accepted Answer

A)  was too high.
B)  was too low.
C)  was accurate.
D)  was irregular.
E)  is where the predictor variable indicated.F) B) and E)
G) A) and B)

Question 11

11eab92b_c4ae_49ea_99e6_df1e7cf214ff What is this year's forecast using trend adjusted (double)smoothing with alpha(1)= 0.2 and alpha(2)= 0.1,if the forecast for last year was 56,the forecast for two years ago was 46,and the trend estimate for last year's forecast was 7?

Accepted Answer

The answer of 11eab92b_c4ae_49ea_99e6_df1e7cf214ff What is this year's forecast using...

Question 12

A control chart involves setting control limits to monitor cumulative forecast error.

Accepted Answer

A) True 
 B)False

Question 13

11eab92b_c4ae_980e_99e6_f1a5bed3ec28 What is the seasonal relative for each season?

Accepted Answer

Spring 0.813; Summer...

Question 14

As a forecasting technique,the Delphi technique is useful for technological forecasting.

Accepted Answer

A) True 
 B)False

Question 15

Trend-Adjusted Exponential Smoothing is also called double exponential smoothing.

Accepted Answer

A) True 
 B)False

Question 16

Given the data below,develop a forecast for the following period using a three-period weighted moving average and weights of .5,.3,and.2.
 11eab92b_c4ad_8688_99e6_efe4f825343a

Accepted Answer

.5(17)+ .3...

Question 17

11eab92b_c4ae_70fc_99e6_850c946a45e9 What is the linear regression trend line for these data (t = 1 for spring,three years ago)?

Accepted Answer

The answer of 11eab92b_c4ae_70fc_99e6_850c946a45e9 What is the linear regression trend...

Question 18

All of the following are true about forecasts EXCEPT:

Accepted Answer

A)  become less accurate with longer time horizons.
B)  are less accurate for individual items than for groups of items.
C)  are always perfect.
D)  are usually the responsibility of operating managers to prepare.
E)  assume the same underlying causal system in the future as the past.F) B) and D)
G) A) and B)

Question 19

Forecasting techniques that are based on time series data assume that future values of the series will duplicate past values.

Accepted Answer

A) True 
 B)False

Question 20

The president of Northern University wants to forecast student enrolments for this academic year based on the following historical data:  What is the forecast for this year using the naive approach?

Accepted Answer

A)  18,750
B)  19,500
C)  21,000
D)  22,000
E)  22,800 The series displays a trend.F) A) and B)
G) A) and C)

Exam 3: Demand Forecasting

Given forecast errors of 4,8,and -3,what is the mean absolute deviation?

Correct AnswerverifiedShow Answer

Given the following data,develop a linear regression model for y as a function of x. 11eab92b_c4ad_fbc1_99e6_a1c18f1b2fa2

Correct Answerverified_TB6896_00 (i)YC = -0...View AnswerShow Answer

Positive forecast errors mean that the forecast:

Correct AnswerverifiedShow Answer

All of the following are true about forecasts EXCEPT:

Correct AnswerverifiedShow Answer

Given the data below,develop a forecast for the following period using a three-period weighted moving average and weights of .5,.3,and.2. 11eab92b_c4ad_8688_99e6_efe4f825343a

Correct Answerverified.5(17)+ .3...View AnswerShow Answer

11eab92b_c4ae_70fc_99e6_850c946a45e9 What is the linear regression trend line for these data (t = 1 for spring,three years ago)?

Correct AnswerverifiedShow Answer

A control chart involves setting control limits to monitor cumulative forecast error.

Correct AnswerverifiedShow Answer

The president of Northern University wants to forecast student enrolments for this academic year based on the following historical data: What is the forecast for this year using the naive approach?

Correct AnswerverifiedShow Answer

11eab92b_c4ae_980e_99e6_f1a5bed3ec28 What is the seasonal relative for each season?

Correct AnswerverifiedSpring 0.813; Summer...View AnswerShow Answer

Given an actual demand of 105,a predicted value of 97,and an alpha of .4,the simple exponential smoothing forecast for the next period would be:

Correct AnswerverifiedShow Answer

Moving average and exponential smoothing forecasting techniques are used for long range forecasts.

Correct AnswerverifiedShow Answer

Persistent upward or downward movement in time series data is called:

Correct AnswerverifiedShow Answer

Trend adjusted exponential smoothing requires selection of two smoothing constants.

Correct AnswerverifiedShow Answer

Which of the following is not part of determining the purpose of the forecast?

Correct AnswerverifiedShow Answer

Trend-Adjusted Exponential Smoothing is also called double exponential smoothing.

Correct AnswerverifiedShow Answer

Using the latest observation in a sequence of data to forecast the next period is:

Correct AnswerverifiedShow Answer

Forecasting techniques that are based on time series data assume that future values of the series will duplicate past values.

Correct AnswerverifiedShow Answer

The dean of a school of business is forecasting total student enrolment for this year's summer session classes based on the following historical data: What is this year's forecast using exponential smoothing with alpha = .4,if last year's smoothed forecast was 2600?

Correct AnswerverifiedShow Answer

11eab92b_c4ae_49ea_99e6_df1e7cf214ff What is this year's forecast using trend adjusted (double)smoothing with alpha(1)= 0.2 and alpha(2)= 0.1,if the forecast for last year was 56,the forecast for two years ago was 46,and the trend estimate for last year's forecast was 7?

Correct AnswerverifiedShow Answer

As a forecasting technique,the Delphi technique is useful for technological forecasting.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
_TB6896_00 (i)Y_C = -0...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
.5(17)+ .3...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Spring 0.813; Summer...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified