Question 1

Because of the development of advanced forecasting models,managers no longer track forecast error.

Accepted Answer

A) True 
 B)False  False

Question 2

The demand behaviour for skis is considered cyclical.

Accepted Answer

A) True 
 B)False  False

Question 3

The weighted moving average forecast for the fifth period with weights of 0.15 for period 1,0.20 for period 2,0.25 for period 3,and 0.40 for period 4,using the demand data shown below is

Accepted Answer

A) 3760. 
B) 3700. 
C) 3650. 
D) 3325. 
A) 3760. 
B) 3700. 
C) 3650. 
D) 3325. A

Question 4

A correlation coefficient is a measure of the strength of the linear relationship between an independent and a dependent variable.

Accepted Answer

A) True 
 B)False

Question 5

The ___ forecast method consists of an exponentially smoothed forecast with a trend adjustment factor added to it.

Accepted Answer

A) exponentially smoothed 
B) adjusted exponentially smoothed 
C) time series 
D) moving average 
A) exponentially smoothed 
B) adjusted exponentially smoothed 
C) time series 
D) moving average

Question 6

Forecast bias is measured by the per-period average of the sum of the forecast errors.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is a reason why a forecast can go "out of control?"

Accepted Answer

A) a change in trend 
B) an irregular variation such as unseasonable weather 
C) a promotional campaign 
D) all of the above 
A) a change in trend 
B) an irregular variation such as unseasonable weather 
C) a promotional campaign 
D) all of the above

Question 8

The type of forecasting method selected depends on time frame,demand behaviour,and causes of behaviour.

Accepted Answer

A) True 
 B)False

Question 9

Short-mid-range forecasts tend to use quantitative models that forecast demand based on historical demand.

Accepted Answer

A) True 
 B)False

Question 10

Given the demand and forecast values below,the naïve forecast for September is

Accepted Answer

A) 100.6. 
B) 99.0. 
C) 102.0. 
D) cannot be determined. 
A) 100.6. 
B) 99.0. 
C) 102.0. 
D) cannot be determined.

Question 11

In today's competitive environment,effective supply chain management requires accurate demand forecasts.

Accepted Answer

A) True 
 B)False

Question 12

The sum of the weights in a weighted moving average forecast

Accepted Answer

A) must equal the number of periods being averaged. 
B) must equal 1.00. 
C) must be less than 1.00. 
D) must be greater than 1.00. 
A) must equal the number of periods being averaged. 
B) must equal 1.00. 
C) must be less than 1.00. 
D) must be greater than 1.00.

Question 13

Linear regression relates two variables using a linear model.

Accepted Answer

A) True 
 B)False

Question 14

Many companies are shifting from long-term to short-term forecast for strategic planning.

Accepted Answer

A) True 
 B)False

Question 15

Correlation is a measure of the strength of the

Accepted Answer

A) nonlinear relationship between two dependent variables. 
B) nonlinear relationship between a dependent and independent variable. 
C) linear relationship between two dependent variables. 
D) linear relationship between a dependent and independent variable. 
A) nonlinear relationship between two dependent variables. 
B) nonlinear relationship between a dependent and independent variable. 
C) linear relationship between two dependent variables. 
D) linear relationship between a dependent and independent variable.

Question 16

A tracking signal is computed by

Accepted Answer

A) multiplying the cumulative error by MAD. 
B) multiplying the absolute error by MAD. 
C) dividing MAD by the cumulative absolute error. 
D) dividing the cumulative error by MAD. 
A) multiplying the cumulative error by MAD. 
B) multiplying the absolute error by MAD. 
C) dividing MAD by the cumulative absolute error. 
D) dividing the cumulative error by MAD.

Question 17

The Delphi method generates forecasts based on informed judgments and opinions from knowledgeable individuals.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is not a type of predictable demand behaviour?

Accepted Answer

A) trend 
B) random variation 
C) cycle 
D) seasonal pattern 
A) trend 
B) random variation 
C) cycle 
D) seasonal pattern

Question 19

Sharing demand forecasts with supply chain members has resulted in an increased bullwhip effect.

Accepted Answer

A) True 
 B)False

Question 20

Time series methods use historical data to predict future demand.

Accepted Answer

A) True 
 B)False

Exam 15: Forecasting

Because of the development of advanced forecasting models,managers no longer track forecast error.

The demand behaviour for skis is considered cyclical.

The weighted moving average forecast for the fifth period with weights of 0.15 for period 1,0.20 for period 2,0.25 for period 3,and 0.40 for period 4,using the demand data shown below is

A correlation coefficient is a measure of the strength of the linear relationship between an independent and a dependent variable.

The ___ forecast method consists of an exponentially smoothed forecast with a trend adjustment factor added to it.

Forecast bias is measured by the per-period average of the sum of the forecast errors.

Which of the following is a reason why a forecast can go "out of control?"

The type of forecasting method selected depends on time frame,demand behaviour,and causes of behaviour.

Short-mid-range forecasts tend to use quantitative models that forecast demand based on historical demand.

Given the demand and forecast values below,the naïve forecast for September is

In today's competitive environment,effective supply chain management requires accurate demand forecasts.

The sum of the weights in a weighted moving average forecast

Linear regression relates two variables using a linear model.

Many companies are shifting from long-term to short-term forecast for strategic planning.

Correlation is a measure of the strength of the

A tracking signal is computed by

The Delphi method generates forecasts based on informed judgments and opinions from knowledgeable individuals.

Which of the following is not a type of predictable demand behaviour?

Sharing demand forecasts with supply chain members has resulted in an increased bullwhip effect.

Time series methods use historical data to predict future demand.

Operations Management

Quality Management

Statistical Process Control

Operational Decision-Making Tools: Acceptance Sampling

Product Design

Service Design

Processes and Technology

Capacity and Facilities Design

Operational Decision-Making Tools: Facility Location Models

Human Resources

Operational Decision-Making Tools: Work Measurement

Project Management

Supply Chain Management: Strategy and Design

Global Supply Chain Procurement and Distribution

Inventory Management

Operational Decision-Making Tools: Simulation

The Sales and Operations Planning Process

Operational Decision-Making Tools: Linear Programming

Resource Planning

Lean Systems

Scheduling

Filters