Question 1

A causal model that predicts demand when the independent variable and the dependent variable are linearly related is?

Accepted Answer

A)  Linear trend forecast 
B)  Simple linear regression forecast 
C)  Multiple regression forecast 
D)  Exponential smoothing forecast 
A)  Linear trend forecast 
B)  Simple linear regression forecast 
C)  Multiple regression forecast 
D)  Exponential smoothing forecast B

Question 2

In Q1, a firm sold 23,000 units of a particular product. In Q2, the firm sold 25,000, and in Q3 22,850 units were sold. Assume weights of 0.5, 0.3, and 0.2 (descending for older data). What is the three period weighted moving average forecast for Q4?

Accepted Answer

A)  23,616 
B)  23,525 
C)  22,850 
D)  Forecast for Q4 cannot be determined from the information given 
A)  23,616 
B)  23,525 
C)  22,850 
D)  Forecast for Q4 cannot be determined from the information given B

Question 3

Unexpected events may lead to demand that is referred to as?

Accepted Answer

A)  Trend 
B)  Seasonality 
C)  Cyclical 
D)  Random variation 
A)  Trend 
B)  Seasonality 
C)  Cyclical 
D)  Random variation D

Question 4

Joe's Donut Hole sold 1,500 donuts in January, 1,600 in February, and 1,550 in March. What is the four period simple moving average forecast for April?

Accepted Answer

A)  The four period simple moving average cannot be determined from the information given 
B)  1,550 
C)  1,600 
D)  1,575 
A)  The four period simple moving average cannot be determined from the information given 
B)  1,550 
C)  1,600 
D)  1,575

Question 5

Good forecasts can lead to a firm experiencing _________ costs.

Accepted Answer

The answer of Good forecasts can lead to a firm...

Question 6

A department store hiring temporary workers to deal with increased demand during the holiday season is practicing what approach?

Accepted Answer

A)  Seasonal management 
B)  Store management 
C)  Demand management 
D)  Labor management 
A)  Seasonal management 
B)  Store management 
C)  Demand management 
D)  Labor management

Question 7

Forecasts will __________ have some error between the forecasted values and the actual values.

Accepted Answer

A)  Not likely 
B)  Likely 
C)  Neither not likely nor likely 
D)  Forecasts will be perfect predictions of the future 
A)  Not likely 
B)  Likely 
C)  Neither not likely nor likely 
D)  Forecasts will be perfect predictions of the future

Question 8

A company utilizing a flexible pricing approach should be aware of which potential negative consequence of this approach?

Accepted Answer

A)  Increased sales 
B)  Stockouts/lost sales 
C)  Stable demand 
D)  Reduced forecast accuracy 
A)  Increased sales 
B)  Stockouts/lost sales 
C)  Stable demand 
D)  Reduced forecast accuracy

Question 9

A firm launching a new product for which historical data does not exist would likely use which type of forecasting technique?

Accepted Answer

A)  Quantitative 
B)  Qualitative 
C)  Qualified 
D)  Quantified 
A)  Quantitative 
B)  Qualitative 
C)  Qualified 
D)  Quantified

Question 10

The relationship between independent and dependent variables can be measured by?

Accepted Answer

A)  The sample causation coefficient 
B)  The sample corollary coefficient 
C)  The sample correlation coefficient 
D)  The sample construct coefficient 
A)  The sample causation coefficient 
B)  The sample corollary coefficient 
C)  The sample correlation coefficient 
D)  The sample construct coefficient

Question 11

The exponential smoothing forecast technique is widely used due to its relative simplicity.

Accepted Answer

A) True 
 B)False

Question 12

Quantitative forecasting techniques that are based on assuming that the future can be predicted by the past are referred to as?

Accepted Answer

A)  Associative forecasts 
B)  Time series forecasts 
C)  Qualitative forecasts 
D)  Delphi method 
A)  Associative forecasts 
B)  Time series forecasts 
C)  Qualitative forecasts 
D)  Delphi method

Question 13

The simple moving average forecasting technique tends to work well when?

Accepted Answer

A)  Demand rapidly increases then decreases 
B)  Demand is stable over time 
C)  Demand is highly variable 
D)  Demand rapidly decreases then increases 
A)  Demand rapidly increases then decreases 
B)  Demand is stable over time 
C)  Demand is highly variable 
D)  Demand rapidly decreases then increases

Question 14

Sales of Easter candy would most likely be characterized as ___________.

Accepted Answer

The answer of Sales of Easter candy would most likely...

Question 15

A forecasting method used when there is a single independent variable (time) and a dependent variable (often demand) and the two variables are linearly related is?

Accepted Answer

A)  Linear trend forecast 
B)  Simple linear regression forecast 
C)  Multiple regression forecast 
D)  Exponential smoothing forecast 
A)  Linear trend forecast 
B)  Simple linear regression forecast 
C)  Multiple regression forecast 
D)  Exponential smoothing forecast

Question 16

Forecast error is defined as the forecast minus the actual demand for a period.

Accepted Answer

A) True 
 B)False

Question 17

A bakery has experienced a slow and steady increase in demand for its products. The bakery is most likely experiencing which time series demand component?

Accepted Answer

A)  Trend 
B)  Seasonality 
C)  Cyclical 
D)  Random variation 
A)  Trend 
B)  Seasonality 
C)  Cyclical 
D)  Random variation

Question 18

Apple's forecasts for the first iPad tablets were likely which type of forecast?

Accepted Answer

A)  Quantitative 
B)  Qualitative 
C)  Qualified 
D)  Quantified 
A)  Quantitative 
B)  Qualitative 
C)  Qualified 
D)  Quantified

Question 19

Quantitative forecasts are based on opinions and intuition.

Accepted Answer

A) True 
 B)False

Question 20

The sample coefficient of determination ranges from?

Accepted Answer

A)  0 to 1 
B)  1 to 100 
C)  -1 to 0 
D)  -1 to 1 
A)  0 to 1 
B)  1 to 100 
C)  -1 to 0 
D)  -1 to 1

A causal model that predicts demand when the independent variable and the dependent variable are linearly related is?

In Q1, a firm sold 23,000 units of a particular product. In Q2, the firm sold 25,000, and in Q3 22,850 units were sold. Assume weights of 0.5, 0.3, and 0.2 (descending for older data). What is the three period weighted moving average forecast for Q4?

Unexpected events may lead to demand that is referred to as?

Joe's Donut Hole sold 1,500 donuts in January, 1,600 in February, and 1,550 in March. What is the four period simple moving average forecast for April?

Good forecasts can lead to a firm experiencing _________ costs.

A department store hiring temporary workers to deal with increased demand during the holiday season is practicing what approach?

Forecasts will __________ have some error between the forecasted values and the actual values.

A company utilizing a flexible pricing approach should be aware of which potential negative consequence of this approach?

A firm launching a new product for which historical data does not exist would likely use which type of forecasting technique?

The relationship between independent and dependent variables can be measured by?

The exponential smoothing forecast technique is widely used due to its relative simplicity.

Quantitative forecasting techniques that are based on assuming that the future can be predicted by the past are referred to as?

The simple moving average forecasting technique tends to work well when?

Sales of Easter candy would most likely be characterized as ___________.

A forecasting method used when there is a single independent variable (time) and a dependent variable (often demand) and the two variables are linearly related is?

Forecast error is defined as the forecast minus the actual demand for a period.

A bakery has experienced a slow and steady increase in demand for its products. The bakery is most likely experiencing which time series demand component?

Apple's forecasts for the first iPad tablets were likely which type of forecast?

Quantitative forecasts are based on opinions and intuition.

The sample coefficient of determination ranges from?

Operations Management, Processes, and Supply Chain Management

Corporate Strategy, Performance, and Sustainability

Product Design and Development

Process Design and Capacity Management

Customer Relationships and Customer Service

Independent Demand Inventory Management

Material Flow Analysis and Facility Layouts

Supplement: Job Scheduling and Vehicle Routing

Lean Systems

Managing Customer and Work Flows

Managing Information Flowsmrp and Erp

Managing Projects

Six Sigma Quality Management

Supplement: Statistical Quality Control

Global Supply Management

Location, Logistics, and Product Returns

Integrating Processes Along the Supply Chain

Filters

Exam 6: Demand Management, Forecasting, and Aggregate Planning

A causal model that predicts demand when the independent variable and the dependent variable are linearly related is?

In Q1, a firm sold 23,000 units of a particular product. In Q2, the firm sold 25,000, and in Q3 22,850 units were sold. Assume weights of 0.5, 0.3, and 0.2 (descending for older data). What is the three period weighted moving average forecast for Q4?

Unexpected events may lead to demand that is referred to as?

Joe's Donut Hole sold 1,500 donuts in January, 1,600 in February, and 1,550 in March. What is the four period simple moving average forecast for April?

Good forecasts can lead to a firm experiencing _________ costs.

A department store hiring temporary workers to deal with increased demand during the holiday season is practicing what approach?

Forecasts will __________ have some error between the forecasted values and the actual values.

A company utilizing a flexible pricing approach should be aware of which potential negative consequence of this approach?

A firm launching a new product for which historical data does not exist would likely use which type of forecasting technique?

The relationship between independent and dependent variables can be measured by?

The exponential smoothing forecast technique is widely used due to its relative simplicity.

Quantitative forecasting techniques that are based on assuming that the future can be predicted by the past are referred to as?

The simple moving average forecasting technique tends to work well when?

Sales of Easter candy would most likely be characterized as ___________.

A forecasting method used when there is a single independent variable (time) and a dependent variable (often demand) and the two variables are linearly related is?

Forecast error is defined as the forecast minus the actual demand for a period.

A bakery has experienced a slow and steady increase in demand for its products. The bakery is most likely experiencing which time series demand component?

Apple's forecasts for the first iPad tablets were likely which type of forecast?

Quantitative forecasts are based on opinions and intuition.

The sample coefficient of determination ranges from?

Operations Management, Processes, and Supply Chain Management

Corporate Strategy, Performance, and Sustainability

Product Design and Development

Process Design and Capacity Management

Customer Relationships and Customer Service

Independent Demand Inventory Management

Material Flow Analysis and Facility Layouts

Supplement: Job Scheduling and Vehicle Routing

Lean Systems

Managing Customer and Work Flows

Managing Information Flowsmrp and Erp

Managing Projects

Six Sigma Quality Management

Supplement: Statistical Quality Control

Global Supply Management

Location, Logistics, and Product Returns

Integrating Processes Along the Supply Chain

Filters