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Operations and Supply Chain Management Study Set 5

Statistics

Quiz 9 :

Forecasting and Demand Planning

Quiz 9 :

Forecasting and Demand Planning

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A tracking signal provides a method for monitoring a forecast by quantifying _____.
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Multiple Choice
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Answer:

A

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In the Delphi method of judgmental forecasting,_____.
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Multiple Choice
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D

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Forecasting is a key component in customer relationship management.
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True False
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Answer:

True

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Judgmental forecasting relies upon historical data in developing forecasts.
True False
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_____ is based on the assumption that the future will be an extrapolation of the past.
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In the context of causal forecasting models with multiple regression,an R-squared (R2)value of 0.70 means that 30 percent of the variation in the dependent variable is explained by the independent variable.
True False
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Call center service training is a preproduction service that requires forecasts to create value in a value chain.
True False
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Alex,a manager at Symbic Inc.,plotted the company's total energy costs of 1 billion dollars over the past 10 years on a chart.The chart suggested that the energy costs appear to be increasing in a fairly predictable linear fashion and that the energy costs are related to time by a linear function Yt =3+5t,where Yt represents the estimate of the energy cost in year t.Given the equation,which of the following is the value of the intercept of the straight line that best fits the time series?
Multiple Choice
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_____ is a common approach to gather data for judgmental forecasts.
Multiple Choice
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Forecast _____ is the difference between the observed value of the time series and the forecast.
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A _____ is the underlying pattern of growth or decline in a time series.
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In the context of data patterns in a time series,a(n)_____ variation is a one-time variation that is explainable.
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In the context of data patterns in a time series,_____ are characterized by repeatable periods of ups and downs over short periods of time.
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If the time series in an exponential smoothing model exhibits a negative trend,the _____.
Multiple Choice
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Moving average (MA)methods work best when:
Multiple Choice
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In the context of demand planning,customers' wants and needs define the customer benefit package.
True False
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When no historical data are available,_____ is the sole basis for predicting future demands.
Multiple Choice
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_____ is a forecasting technique that uses a weighted average of past time-series values to forecast the value of the time series in the next period.
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In the context of forecasting,the term _____ refers to the tendency of forecasts to consistently be larger or smaller than the actual values of the time series.
Multiple Choice
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A moving average (MA)method is most appropriate for data with major identifiable trends.
True False
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