Question 1

Seasonal indices adjust raw data for patterns that repeat at regular time intervals.

Accepted Answer

A) True 
 B)False

Question 2

One use of short-range forecasts is to determine

Accepted Answer

A)  planning for new products.
B)  capital expenditures.
C)  research and development plans.
D)  facility location.
E)  job assignments.F) B) and D)
G) A) and D)

Question 3

Forecasts are usually classified by time horizon into three categories

Accepted Answer

A)  short-range,medium-range,and long-range.
B)  finance/accounting,marketing,and operations.
C)  strategic,tactical,and operational.
D)  exponential smoothing,regression,and time series.
E)  departmental,organizational,and industrial.F) A) and E)
G) A) and B)

Question 4

Gradual movement in time-series data over time is called

Accepted Answer

A)  seasonal variation.
B)  a cycle.
C)  a trend.
D)  exponential variation.
E)  random variation.F) A) and D)
G) B) and C)

Question 5

What is focus forecasting?

Accepted Answer

It is a forecasting method tha...

Question 6

What is a time-series forecasting model?

Accepted Answer

A time-series forecasting mode...

Question 7

Describe the three forecasting time horizons and their use.

Accepted Answer

Forecasting time horizons are: short ran...

Question 8

Demand (sales)forecasts serve as inputs to financial,marketing,and personnel planning.

Accepted Answer

A) True 
 B)False

Question 9

Taco Bell's unique employee scheduling practices are partly the result of using

Accepted Answer

A)  point-of-sale computers to track food sales in 15 minute intervals and a six-week moving average forecasting technique.
B)  focus forecasting and multiple regression.
C)  a six-week moving average forecasting technique and multiple regression.
D)  singular regression.
E)  work breakdown structures.F) A) and B)
G) A) and C)

Question 10

Given an actual demand of 103,a previous forecast value of 99,and an alpha of .4,the exponential smoothing forecast for the next period would be

Accepted Answer

A)  94.6.
B)  97.4.
C)  100.6.
D)  101.6.
E)  103.0.F) All of the above
G) B) and D)

Question 11

Which of the following most requires long-range forecasting (as opposed to short-range or medium-range forecasting) for its planning purposes?

Accepted Answer

A)  job scheduling
B)  production levels
C)  cash budgeting
D)  capital expenditures
E)  purchasingF) A) and B)
G) All of the above

Question 12

________ expresses the error as a percent of the actual values,undistorted by a single large value.

Accepted Answer

A)  MAD
B)  MSE
C)  MAPE
D)  FIT
E)  The smoothing constantF) B) and E)
G) A) and C)

Question 13

________ forecasts address the business cycle by predicting inflation rates,money supplies,housing starts,and other planning indicators.

Accepted Answer

The answer of ________ forecasts address the business cycle by...

Question 14

In a regression equation where Y is demand and X is advertising,a coefficient of determination (  )of .70 means that 70% of the variance in advertising is explained by demand.

Accepted Answer

A) True 
 B)False

Question 15

Computer monitoring of tracking signals and self-adjustment if a signal passes a preset limit is characteristic of

Accepted Answer

A)  exponential smoothing including trend.
B)  adaptive smoothing.
C)  trend projection.
D)  focus forecasting.
E)  multiple regression analysis.F) B) and C)
G) A) and B)

Question 16

Arnold Tofu owns and operates a chain of 12 vegetable protein "hamburger" restaurants in Quebec.Sales figures and profits for the stores are in the table below.Sales are given in millions of dollars;profits are in hundreds of thousands of dollars.Calculate a regression line for the data.What is your forecast of profit for a store with sales of $24 million? $30 million?

Accepted Answer

Students must recognize that "sales" is ...

Question 17

Many services maintain records of sales noting

Accepted Answer

A)  the day of the week.
B)  unusual events.
C)  weather.
D)  holidays.
E)  all of the above.F) A) and B)
G) A) and C)

Question 18

Forecasts of individual products tend to be more accurate than forecasts of product families.

Accepted Answer

A) True 
 B)False

Question 19

The two general approaches to forecasting are

Accepted Answer

A)  qualitative and quantitative.
B)  mathematical and statistical.
C)  judgmental and qualitative.
D)  historical and associative.
E)  judgmental and associative.F) All of the above
G) A) and B)

Question 20

An approach to exponential smoothing in which the smoothing constant is automatically changed to keep errors to a minimum is called ________.

Accepted Answer

The answer of An approach to exponential smoothing in which...

Exam 4: Forecasting

Gradual movement in time-series data over time is called

Correct Answer
verified

Which of the following most requires long-range forecasting (as opposed to short-range or medium-range forecasting) for its planning purposes?

Correct Answer
verified

Given an actual demand of 103,a previous forecast value of 99,and an alpha of .4,the exponential smoothing forecast for the next period would be

Correct Answer
verified

Forecasts are usually classified by time horizon into three categories

Correct Answer
verified

Describe the three forecasting time horizons and their use.

Correct Answer
verified
Forecasting time horizons are: short ran...
View Answer

Many services maintain records of sales noting

Correct Answer
verified

What is a time-series forecasting model?

Correct Answer
verified
A time-series forecasting mode...
View Answer

An approach to exponential smoothing in which the smoothing constant is automatically changed to keep errors to a minimum is called ________.

Correct Answer
verified

________ forecasts address the business cycle by predicting inflation rates,money supplies,housing starts,and other planning indicators.

Correct Answer
verified

Seasonal indices adjust raw data for patterns that repeat at regular time intervals.

Correct Answer
verified

What is focus forecasting?

Correct Answer
verified
It is a forecasting method tha...
View Answer

One use of short-range forecasts is to determine

Correct Answer
verified

Demand (sales)forecasts serve as inputs to financial,marketing,and personnel planning.

Correct Answer
verified

The two general approaches to forecasting are

Correct Answer
verified

Taco Bell's unique employee scheduling practices are partly the result of using

Correct Answer
verified

Forecasts of individual products tend to be more accurate than forecasts of product families.

Correct Answer
verified

Correct Answer
verified
Students must recognize that "sales" is ...
View Answer

Computer monitoring of tracking signals and self-adjustment if a signal passes a preset limit is characteristic of

Correct Answer
verified

In a regression equation where Y is demand and X is advertising,a coefficient of determination ( )of .70 means that 70% of the variance in advertising is explained by demand.

Correct Answer
verified

________ expresses the error as a percent of the actual values,undistorted by a single large value.

Correct Answer
verified

Exam 4: Forecasting

Gradual movement in time-series data over time is called

Correct AnswerverifiedShow Answer

Which of the following most requires long-range forecasting (as opposed to short-range or medium-range forecasting) for its planning purposes?

Correct AnswerverifiedShow Answer

Given an actual demand of 103,a previous forecast value of 99,and an alpha of .4,the exponential smoothing forecast for the next period would be

Correct AnswerverifiedShow Answer

Forecasts are usually classified by time horizon into three categories

Correct AnswerverifiedShow Answer

Describe the three forecasting time horizons and their use.

Correct AnswerverifiedForecasting time horizons are: short ran...View AnswerShow Answer

Many services maintain records of sales noting

Correct AnswerverifiedShow Answer

What is a time-series forecasting model?

Correct AnswerverifiedA time-series forecasting mode...View AnswerShow Answer

An approach to exponential smoothing in which the smoothing constant is automatically changed to keep errors to a minimum is called ________.

Correct AnswerverifiedShow Answer

________ forecasts address the business cycle by predicting inflation rates,money supplies,housing starts,and other planning indicators.

Correct AnswerverifiedShow Answer

Seasonal indices adjust raw data for patterns that repeat at regular time intervals.

Correct AnswerverifiedShow Answer

What is focus forecasting?

Correct AnswerverifiedIt is a forecasting method tha...View AnswerShow Answer

One use of short-range forecasts is to determine

Correct AnswerverifiedShow Answer

Demand (sales)forecasts serve as inputs to financial,marketing,and personnel planning.

Correct AnswerverifiedShow Answer

The two general approaches to forecasting are

Correct AnswerverifiedShow Answer

Taco Bell's unique employee scheduling practices are partly the result of using

Correct AnswerverifiedShow Answer

Forecasts of individual products tend to be more accurate than forecasts of product families.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedStudents must recognize that "sales" is ...View AnswerShow Answer

Computer monitoring of tracking signals and self-adjustment if a signal passes a preset limit is characteristic of

Correct AnswerverifiedShow Answer

In a regression equation where Y is demand and X is advertising,a coefficient of determination ( )of .70 means that 70% of the variance in advertising is explained by demand.

Correct AnswerverifiedShow Answer

________ expresses the error as a percent of the actual values,undistorted by a single large value.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Forecasting time horizons are: short ran...
View Answer

Correct Answer
verified

Correct Answer
verified
A time-series forecasting mode...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
It is a forecasting method tha...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Students must recognize that "sales" is ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified