Question 1

If a forecast is consistently greater than (or less than)actual values,the forecast is said to be biased.

Accepted Answer

A) True 
 B)False

Question 2

What is the approximate forecast for May using a four-month moving average?

Accepted Answer

A)  38
B)  42
C)  43
D)  44
E)  47F) A) and D)
G) All of the above

Question 3

The ________ measures the strength of the relationship between two variables.

Accepted Answer

coefficien...

Question 4

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 E)
G) A) and B)

Question 5

Use exponential smoothing with trend adjustment to forecast deliveries for period 10.Let alpha = 0.4,beta = 0.2,and let the initial trend value be 4 and the initial forecast be 200.

Accepted Answer

The answer of Use exponential smoothing with trend adjustment to...

Question 6

Describe three popular measures of forecast accuracy.

Accepted Answer

Measures of forecast accuracy include: (...

Question 7

What is a tracking signal? Explain the connection between adaptive smoothing and tracking signals.

Accepted Answer

A tracking signal is a measure of how we...

Question 8

In time series,which of the following cannot be predicted?

Accepted Answer

A)  large increases in demand
B)  cycles
C)  seasonal fluctuations
D)  random fluctuations
E)  large decreases in demandF) B) and C)
G) A) and D)

Question 9

________ is a time-series forecasting method that fits a trend line to a series of historical data points and then projects the line into the future for forecasts.

Accepted Answer

The answer of ________ is a time-series forecasting method that...

Question 10

Many service firms use point-of-sale computers to collect detailed records needed for accurate short-term forecasts.

Accepted Answer

A) True 
 B)False

Question 11

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...

Question 12

________ are useful if we can assume that market demands will stay fairly steady over time.

Accepted Answer

The answer of ________ are useful if we can assume...

Question 13

Which of the following is not a step in the forecasting process?

Accepted Answer

A)  Determine the use of the forecast.
B)  Eliminate any assumptions.
C)  Determine the time horizon.
D)  Select forecasting model.
E)  Validate and implement the results.F) A) and E)
G) C) and D)

Question 14

In trend projection,a negative regression slope is mathematically impossible.

Accepted Answer

A) True 
 B)False

Question 15

What is focus forecasting?

Accepted Answer

It is a forecasting method tha...

Question 16

Explain the role of regression models (time series and otherwise)in forecasting.That is,how is trend projection able to forecast? How is regression used for causal forecasting?

Accepted Answer

For trend projection,the independent var...

Question 17

In trend projection,the trend component is the slope of the regression equation.

Accepted Answer

A) True 
 B)False

Question 18

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) B) and D)
G) A) and D)

Question 19

Distinguish between a moving average model and an exponential smoothing model.

Accepted Answer

Exponential smoothing is a weighted movi...

Question 20

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

Exam 4: Forecasting

What is a tracking signal? Explain the connection between adaptive smoothing and tracking signals.

Correct AnswerverifiedA tracking signal is a measure of how we...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

Many service firms use point-of-sale computers to collect detailed records needed for accurate short-term forecasts.

Correct AnswerverifiedShow Answer

In time series,which of the following cannot be predicted?

Correct AnswerverifiedShow Answer

One use of short-range forecasts is to determine

Correct AnswerverifiedShow Answer

Describe three popular measures of forecast accuracy.

Correct AnswerverifiedMeasures of forecast accuracy include: (...View AnswerShow Answer

Explain the role of regression models (time series and otherwise)in forecasting.That is,how is trend projection able to forecast? How is regression used for causal forecasting?

Correct AnswerverifiedFor trend projection,the independent var...View AnswerShow Answer

What is the approximate forecast for May using a four-month moving average?

Correct AnswerverifiedShow Answer

If a forecast is consistently greater than (or less than)actual values,the forecast is said to be biased.

Correct AnswerverifiedShow Answer

________ are useful if we can assume that market demands will stay fairly steady over time.

Correct AnswerverifiedShow Answer

In trend projection,a negative regression slope is mathematically impossible.

Correct AnswerverifiedShow Answer

What is focus forecasting?

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

________ is a time-series forecasting method that fits a trend line to a series of historical data points and then projects the line into the future for forecasts.

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

Which of the following is not a step in the forecasting process?

Correct AnswerverifiedShow Answer

Many services maintain records of sales noting

Correct AnswerverifiedShow Answer

The ________ measures the strength of the relationship between two variables.

Correct Answerverifiedcoefficien...View AnswerShow Answer

Use exponential smoothing with trend adjustment to forecast deliveries for period 10.Let alpha = 0.4,beta = 0.2,and let the initial trend value be 4 and the initial forecast be 200.

Correct AnswerverifiedShow Answer

Distinguish between a moving average model and an exponential smoothing model.

Correct AnswerverifiedExponential smoothing is a weighted movi...View AnswerShow Answer

In trend projection,the trend component is the slope of the regression equation.

Correct AnswerverifiedShow Answer

Correct Answer
verified
A tracking signal is a measure of how we...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Measures of forecast accuracy include: (...
View Answer

Correct Answer
verified
For trend projection,the independent var...
View Answer

Correct Answer
verified

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
coefficien...
View Answer

Correct Answer
verified

Correct Answer
verified
Exponential smoothing is a weighted movi...
View Answer

Correct Answer
verified