Question 1

A moving average forecast tends to be more responsive to changes in the data series when more data points are included in the average.

Accepted Answer

A) True 
 B)False

Question 2

The T in the model TAF = S + T represents the time dimension.

Accepted Answer

A) True 
 B)False

Question 3

Which term most closely describes what associative forecasting techniques are based on?

Accepted Answer

A)   Time series data
B)   Linear relationships
C)   The Delphi technique
D)   Consumer survey
E)   Predictor variables

Question 4

What is this week's forecast using exponential smoothing with alpha = .2,if the forecast for two weeks ago was 90?

Accepted Answer

A)   49
B)   50
C)   52
D)   65
E)   78

Question 5

A smoothing constant of .1 will cause an exponential smoothing forecast to react more quickly to a sudden change than a value of .3 will.

Accepted Answer

A) True 
 B)False

Question 6

In order to update a moving average forecast,the values of each data point in the average must be known.

Accepted Answer

A) True 
 B)False

Question 7

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)   12

Question 8

A network security company is securing input from information technology managers trying to anticipate when Wi Fi networks might be available in at least half of their client's businesses.Which method are they most likely to use?

Accepted Answer

A)   The Delphi method
B)   Consumer surveys
C)   Regression models
D)   Naive method
E)   Trend models

Question 9

Which of the following is not an accurate statement concerning bias in forecasts?

Accepted Answer

A)   Bias is calculated based on the mean absolute percent error (MAP
E)  .
B)   Persistent negative bias implies forecasting frequently overstating actual values.
C)   Bias is the sum of forecast errors.
D)   Persistent positive bias implies frequently underestimating actual values.
E)   Bias may indicate a shift in the demand pattern.

Question 10

A manager is using the equation below to forecast quarterly demand for a product:
Yt= 6,000 + 80t where t = 0 at Q2 of last year
Quarter relatives are Q1 = .6,Q2 = .9,Q3 = 1.3,and Q4 = 1.2.
What forecasts are appropriate for the last quarter of this year and the first quarter of next year?

Accepted Answer

Question 11

What is the forecast for this year using the least squares trend line for these data?

Accepted Answer

A)   18,750
B)   19,500
C)   21,000
D)   22,650
E)   22,800

Question 12

Which would not generally be considered a feature common to all forecasts?

Accepted Answer

A)   An assumption of a stable underlying causal system.
B)   Actual results will differ somewhat from predicted values.
C)   Historical data is available on which to base the forecast.
D)   Forecasts for groups of items tend to be more accurate than forecasts for individual items.
E)   Accuracy decreases as the time horizon increases.

Exam 3: Demand Forecasting

What is this week's forecast using exponential smoothing with alpha = .2,if the forecast for two weeks ago was 90?

Correct Answer
verified

In order to update a moving average forecast,the values of each data point in the average must be known.

Correct Answer
verified

A manager is using the equation below to forecast quarterly demand for a product: Y_t= 6,000 + 80t where t = 0 at Q2 of last year Quarter relatives are Q1 = .6,Q2 = .9,Q3 = 1.3,and Q4 = 1.2. What forecasts are appropriate for the last quarter of this year and the first quarter of next year?

Correct Answer
verified

A smoothing constant of .1 will cause an exponential smoothing forecast to react more quickly to a sudden change than a value of .3 will.

Correct Answer
verified

The T in the model TAF = S + T represents the time dimension.

Correct Answer
verified

What is the forecast for this year using the least squares trend line for these data?

Correct Answer
verified

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

Correct Answer
verified

Which of the following is not an accurate statement concerning bias in forecasts?

Correct Answer
verified

Which would not generally be considered a feature common to all forecasts?

Correct Answer
verified

A moving average forecast tends to be more responsive to changes in the data series when more data points are included in the average.

Correct Answer
verified

Which term most closely describes what associative forecasting techniques are based on?

Correct Answer
verified

A network security company is securing input from information technology managers trying to anticipate when Wi Fi networks might be available in at least half of their client's businesses.Which method are they most likely to use?

Correct Answer
verified

Exam 3: Demand Forecasting

What is this week's forecast using exponential smoothing with alpha = .2,if the forecast for two weeks ago was 90?

Correct AnswerverifiedShow Answer

In order to update a moving average forecast,the values of each data point in the average must be known.

Correct AnswerverifiedShow Answer

A manager is using the equation below to forecast quarterly demand for a product: Yt= 6,000 + 80t where t = 0 at Q2 of last year Quarter relatives are Q1 = .6,Q2 = .9,Q3 = 1.3,and Q4 = 1.2. What forecasts are appropriate for the last quarter of this year and the first quarter of next year?

Correct AnswerverifiedShow Answer

A smoothing constant of .1 will cause an exponential smoothing forecast to react more quickly to a sudden change than a value of .3 will.

Correct AnswerverifiedShow Answer

The T in the model TAF = S + T represents the time dimension.

Correct AnswerverifiedShow Answer

What is the forecast for this year using the least squares trend line for these data?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is not an accurate statement concerning bias in forecasts?

Correct AnswerverifiedShow Answer

Which would not generally be considered a feature common to all forecasts?

Correct AnswerverifiedShow Answer

A moving average forecast tends to be more responsive to changes in the data series when more data points are included in the average.

Correct AnswerverifiedShow Answer

Which term most closely describes what associative forecasting techniques are based on?

Correct AnswerverifiedShow Answer

A network security company is securing input from information technology managers trying to anticipate when Wi Fi networks might be available in at least half of their client's businesses.Which method are they most likely to use?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

A manager is using the equation below to forecast quarterly demand for a product: Y_t= 6,000 + 80t where t = 0 at Q2 of last year Quarter relatives are Q1 = .6,Q2 = .9,Q3 = 1.3,and Q4 = 1.2. What forecasts are appropriate for the last quarter of this year and the first quarter of next year?

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