Question 1

Historical analogy involves comparative analysis of the introduction and growth patterns of new items with similar previously-introduced items.

Accepted Answer

A) True 
 B)False

Question 2

The Delphi method is best used when forecasting:

Accepted Answer

A)  customer demand. 
B)  technological change. 
C)  correlations between events. 
D)  future economic conditions. 
A)  customer demand. 
B)  technological change. 
C)  correlations between events. 
D)  future economic conditions.

Question 3

Subjective models are used to assess the future impact of changing demographics.

Accepted Answer

A) True 
 B)False

Question 4

____ is the smoothing constant for the trend adjustment in an exponential smoothing forecast.

Accepted Answer

A)  Alpha 
B)  Beta 
C)  Gamma 
D)  Delta 
A)  Alpha 
B)  Beta 
C)  Gamma 
D)  Delta

Question 5

Regression models require all but one of the following:

Accepted Answer

A)  numerical data. 
B)  subjective data. 
C)  independent variables. 
D)  dependent variable. 
A)  numerical data. 
B)  subjective data. 
C)  independent variables. 
D)  dependent variable.

Question 6

Characteristics of forecasting models include all but one of the following:

Accepted Answer

A)  data required. 
B)  economic conditions. 
C)  relative cost. 
D)  forecast horizon. 
A)  data required. 
B)  economic conditions. 
C)  relative cost. 
D)  forecast horizon.

Question 7

Both trend and seasonal adjustments can augment a single exponential-smoothing model.

Accepted Answer

A) True 
 B)False

Question 8

Most forecasting models assume that the underlying pattern of behavior of their data will remain the same. The only component of error is attributable to random fluctuations that are not under the control of anyone.

Accepted Answer

A) True 
 B)False

Question 9

The main advantage that simple moving-average models have over exponentially-smoothed models is that they can be made to give any desired weight to specific periods in the past.

Accepted Answer

A) True 
 B)False

Question 10

One reason exponential smoothing is so popular is the ease with which it can be made to accommodate trend and seasonality in its forecasts.

Accepted Answer

A) True 
 B)False

Question 11

Survey results are used in:

Accepted Answer

A)  regression. 
B)  cross-impact anlaysis. 
C)  econometric models. 
D)  Delphi method. 
A)  regression. 
B)  cross-impact anlaysis. 
C)  econometric models. 
D)  Delphi method.

Question 12

The selection of candidate independent variables for a regression model to forecast motel occupancy requires input from knowledgeable marketing personnel. 
Multiple Choice

Accepted Answer

A) True 
 B)False

Question 13

Fast-food restaurants use a causal model to forecast daily demand for menu items.

Accepted Answer

A) True 
 B)False

Question 14

Which oneof the following is an example of a causal model?

Accepted Answer

A)  Delphi method 
B)  Moving average 
C)  Cross-impact analysis 
D)  Regression 
A)  Delphi method 
B)  Moving average 
C)  Cross-impact analysis 
D)  Regression

Question 15

The forecast horizon for regression methods is _________.

Accepted Answer

A)  short term. 
B)  medium term. 
C)  long term. 
D)  medium to long term. 
A)  short term. 
B)  medium term. 
C)  long term. 
D)  medium to long term.

Question 16

The forecast horizon for a cross-impact analysis method is medium-term.

Accepted Answer

A) True 
 B)False

Question 17

Which one of the following is not an advantage of the Simple Exponential Smoothing model over the N-period Moving Average model?

Accepted Answer

A)  Old data are never dropped. 
B)  Older data are given progressively less weight. 
C)  Calculation is simple. 
D)  None of the above. 
A)  Old data are never dropped. 
B)  Older data are given progressively less weight. 
C)  Calculation is simple. 
D)  None of the above.

Question 18

_____________ is used best to forecast demand.

Accepted Answer

A)  Exponential smoothing 
B)  Historical analogy 
C)  Dephi method 
D)  Econometrics 
A)  Exponential smoothing 
B)  Historical analogy 
C)  Dephi method 
D)  Econometrics

Question 19

The usual range of the smoothing constant for a simple exponential smoothing forecast is:

Accepted Answer

A)  0.1-0.5 
B)  0.3-0.7 
C)  0.5-0.7 
D)  0.5-1.0 
A)  0.1-0.5 
B)  0.3-0.7 
C)  0.5-0.7 
D)  0.5-1.0

Question 20

In forecasting, the term "cycle" refers to repetition of data:

Accepted Answer

A)  once a year, if seasonal. 
B)  once in a period. 
C)  within a week. 
D)  during a day. 
A)  once a year, if seasonal. 
B)  once in a period. 
C)  within a week. 
D)  during a day.

Historical analogy involves comparative analysis of the introduction and growth patterns of new items with similar previously-introduced items.

The Delphi method is best used when forecasting:

Subjective models are used to assess the future impact of changing demographics.

____ is the smoothing constant for the trend adjustment in an exponential smoothing forecast.

Regression models require all but one of the following:

Characteristics of forecasting models include all but one of the following:

Both trend and seasonal adjustments can augment a single exponential-smoothing model.

Most forecasting models assume that the underlying pattern of behavior of their data will remain the same. The only component of error is attributable to random fluctuations that are not under the control of anyone.

The main advantage that simple moving-average models have over exponentially-smoothed models is that they can be made to give any desired weight to specific periods in the past.

One reason exponential smoothing is so popular is the ease with which it can be made to accommodate trend and seasonality in its forecasts.

Survey results are used in:

The selection of candidate independent variables for a regression model to forecast motel occupancy requires input from knowledgeable marketing personnel. Multiple Choice

Fast-food restaurants use a causal model to forecast daily demand for menu items.

Which oneof the following is an example of a causal model?

The forecast horizon for regression methods is _________.

The forecast horizon for a cross-impact analysis method is medium-term.

Which one of the following is not an advantage of the Simple Exponential Smoothing model over the N-period Moving Average model?

_____________ is used best to forecast demand.

The usual range of the smoothing constant for a simple exponential smoothing forecast is:

In forecasting, the term "cycle" refers to repetition of data:

The Service Economy

Service Strategy

The Service Encounter

Supporting Facility and Process Flows

Service Quality

Process Improvement

Service Facility Location

Service Supply Relationships

Globalization of Services

Managing Capacity and Demand

Managing Waiting Lines

Capacity Planning and Queuing Models

Managing Service Inventory

Managing Service Projects

Filters

Exam 14: Forecasting Demand for Services

Historical analogy involves comparative analysis of the introduction and growth patterns of new items with similar previously-introduced items.

The Delphi method is best used when forecasting:

Subjective models are used to assess the future impact of changing demographics.

____ is the smoothing constant for the trend adjustment in an exponential smoothing forecast.

Regression models require all but one of the following:

Characteristics of forecasting models include all but one of the following:

Both trend and seasonal adjustments can augment a single exponential-smoothing model.

Most forecasting models assume that the underlying pattern of behavior of their data will remain the same. The only component of error is attributable to random fluctuations that are not under the control of anyone.

The main advantage that simple moving-average models have over exponentially-smoothed models is that they can be made to give any desired weight to specific periods in the past.

One reason exponential smoothing is so popular is the ease with which it can be made to accommodate trend and seasonality in its forecasts.

Survey results are used in:

The selection of candidate independent variables for a regression model to forecast motel occupancy requires input from knowledgeable marketing personnel. Multiple Choice

Fast-food restaurants use a causal model to forecast daily demand for menu items.

Which oneof the following is an example of a causal model?

The forecast horizon for regression methods is _________.

The forecast horizon for a cross-impact analysis method is medium-term.

Which one of the following is not an advantage of the Simple Exponential Smoothing model over the N-period Moving Average model?

_____________ is used best to forecast demand.

The usual range of the smoothing constant for a simple exponential smoothing forecast is:

In forecasting, the term "cycle" refers to repetition of data:

The Service Economy

Service Strategy

The Service Encounter

Supporting Facility and Process Flows

Service Quality

Process Improvement

Service Facility Location

Service Supply Relationships

Globalization of Services

Managing Capacity and Demand

Managing Waiting Lines

Capacity Planning and Queuing Models

Managing Service Inventory

Managing Service Projects

Filters