The mean absolute percentage error (MAPE) for the forecasts shown in the following table is: \(\begin{array} { | l | l | l | } \hline \text { Month } & \text { Forecast Demand } & \text { Actual Demand } \\ \hline \text { April } & 110 & 100 \\ \hline \text { May } & 150 & 125 \\ \hline \text { June } & 160 & 170 \\ \hline \text { July } & 110 & 130 \\ \hline \text { August } & 150 & 180 \\ \hline \end{array}\)

A) less than or equal to 5 percent. B) more than 5 percent but less than or equal to 10 percent. C) more than 10 percent but less than or equal to 15 percent. D) more than 15 percent. A) less than or equal to 5 percent. B) more than 5 percent but less than or equal to 10 percent. C) more than 10 percent but less than or equal to 15 percent. D) more than 15 percent.

The mean square error (MSE) for the forecasts shown in the following table is: \(\begin{array} { | l | l | l | } \hline \text { Month } & \text { Forecast Demand } & \text { Actual Demand } \\ \hline \text { April } & 170 & 180 \\ \hline \text { May } & 225 & 200 \\ \hline \text { June } & 210 & 200 \\ \hline \text { July } & 260 & 240 \\ \hline \text { August } & 200 & 230 \\ \hline \end{array}\)

A) more than 250 but less than or equal to 300. B) more than 300 but less than or equal to 350. C) more than 350 but less than or equal to 400. D) more than 400 but less than or equal to 450. A) more than 250 but less than or equal to 300. B) more than 300 but less than or equal to 350. C) more than 350 but less than or equal to 400. D) more than 400 but less than or equal to 450.

The mean absolute deviation (MAD) for the forecasts shown in the following table is: \(\begin{array} { | l | l | l | } \hline \text { Month } & \text { Forecast Demand } & \text { Actual Demand } \\ \hline \text { April } & 190 & 180 \\ \hline \text { May } & 175 & 200 \\ \hline \text { June } & 190 & 200 \\ \hline \text { July } & 240 & 220 \\ \hline \text { August } & 225 & 195 \\ \hline \end{array}\)

A) more than 10 but less than or equal to 20. B) more than 20 but less than or equal to 30. C) more than 30 but less than or equal to 40. D) more than 40 but less than or equal to 50. A) more than 10 but less than or equal to 20. B) more than 20 but less than or equal to 30. C) more than 30 but less than or equal to 40. D) more than 40 but less than or equal to 50.

Exam 9: Forecasting and Demand Planning

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 Y t =3+5t, where Y trepresents 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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Question 21

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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Question 22

Forecasting is a key component in customer relationship management.

(True/False)

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Question 23

In the context of data patterns in a time series, a(n) _____ is a one-time variation that is explainable.

(Multiple Choice)

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Question 24

A moving average (MA) method is most appropriate for data with major identifiable trends.

(True/False)

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Question 25

__________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.

(Multiple Choice)

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Question 26

The mean absolute percentage error (MAPE) for the forecasts shown in the following table is: Month Forecast Demand Actual Demand April 110 100 May 150 125 June 160 170 July 110 130 August 150 180

(Multiple Choice)

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Question 27

The mean square error (MSE) for the forecasts shown in the following table is: Month Forecast Demand Actual Demand April 170 180 May 225 200 June 210 200 July 260 240 August 200 230

(Multiple Choice)

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Question 28

Call center service training is a preproduction service that requires forecasts to create value in a value chain.

(True/False)

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Question 29

__________is based on the assumption that the future will be an extrapolation of the past.

(Multiple Choice)

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Question 30

An exponential smoothing model must have a smoothing constant (α) _____ to be roughly equivalent to a moving average model with a seven-month moving average.

(Multiple Choice)

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Question 31

A tracking signal provides a method for monitoring a forecast by quantifying _____.

(Multiple Choice)

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Question 32

The following table shows the sales data of server computers of Ziffcore Inc. for the past 5 years. The management plotted the data on a chart. The chart suggested that the sales appear to be increasing in a fairly predictable linear fashion and that the sales are related to time by a linear function Y t =240+340t. Using simple linear regression, calculate the forecast for sales in year 6. Year Sales 1 580 2 920 3 1260 4 1600 5 1940

(Multiple Choice)

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Question 33

In the Delphi method of judgmental forecasting, _____.

(Multiple Choice)

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Question 34

The mean absolute deviation (MAD) for the forecasts shown in the following table is: Month Forecast Demand Actual Demand April 190 180 May 175 200 June 190 200 July 240 220 August 225 195

(Multiple Choice)

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Question 35

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.

Forecasting is a key component in customer relationship management.

In the context of data patterns in a time series, a(n) _____ is a one-time variation that is explainable.

A moving average (MA) method is most appropriate for data with major identifiable trends.

__________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.

The mean absolute percentage error (MAPE) for the forecasts shown in the following table is: Month Forecast Demand Actual Demand April 110 100 May 150 125 June 160 170 July 110 130 August 150 180

The mean square error (MSE) for the forecasts shown in the following table is: Month Forecast Demand Actual Demand April 170 180 May 225 200 June 210 200 July 260 240 August 200 230

Call center service training is a preproduction service that requires forecasts to create value in a value chain.

__________is based on the assumption that the future will be an extrapolation of the past.

An exponential smoothing model must have a smoothing constant (α) _____ to be roughly equivalent to a moving average model with a seven-month moving average.

A tracking signal provides a method for monitoring a forecast by quantifying _____.

In the Delphi method of judgmental forecasting, _____.

The mean absolute deviation (MAD) for the forecasts shown in the following table is: Month Forecast Demand Actual Demand April 190 180 May 175 200 June 190 200 July 240 220 August 225 195

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