Question 1

The weighted moving average forecasting technique tends to do a good job tracking trend in demand.

Accepted Answer

A) True 
 B)False

Question 2

The measure of the variation in the dependent variable that can be explained by the independent variable is?

Accepted Answer

A)  The sample coefficient of direction 
B)  The sample coefficient of determination 
C)  The sample coefficient of division 
D)  The sample correlation coefficient 
A)  The sample coefficient of direction 
B)  The sample coefficient of determination 
C)  The sample coefficient of division 
D)  The sample correlation coefficient

Question 3

Meeting forecasted demand while minimizing costs and maximizing customer service over a series of planning periods is broadly referred to as?

Accepted Answer

A)  Aggregate planning 
B)  Firms acting independently 
C)  Firms acting in their own best interest 
D)  Firms sharing information 
A)  Aggregate planning 
B)  Firms acting independently 
C)  Firms acting in their own best interest 
D)  Firms sharing information

Question 4

The department within a firm that oversees procurement is likely which of the following?

Accepted Answer

A)  Supply management 
B)  Operations 
C)  Distribution 
D)  Marketing 
A)  Supply management 
B)  Operations 
C)  Distribution 
D)  Marketing

Question 5

If a trend line is given as Demand = 65 + 21(Time) then what is the vertical axis intercept of the trend line?

Accepted Answer

A)  65 
B)  21 
C)  76 
D)  The slope cannot be determined from the information given 
A)  65 
B)  21 
C)  76 
D)  The slope cannot be determined from the information given

Question 6

Trend variation in a time series would most likely be characterized as?

Accepted Answer

A)  Rapidly decreasing demand 
B)  Gradually increasing demand 
C)  Gradually increasing or decreasing demand 
D)  Demand pattern influenced by seasonal factors 
A)  Rapidly decreasing demand 
B)  Gradually increasing demand 
C)  Gradually increasing or decreasing demand 
D)  Demand pattern influenced by seasonal factors

Question 7

If a trend line is given as Demand = 135 - 14(Time) then what is the slope of the trend line?

Accepted Answer

A)  121 
B)  135 
C)  -14 
D)  The slope cannot be determined from the information given 
A)  121 
B)  135 
C)  -14 
D)  The slope cannot be determined from the information given

Question 8

The exponential smoothing forecasting method requires?

Accepted Answer

A)  More data than the weighted moving average technique 
B)  Less data than the weighted moving average technique 
C)  The same amount of data as the weighted moving average technique 
D)  No data 
A)  More data than the weighted moving average technique 
B)  Less data than the weighted moving average technique 
C)  The same amount of data as the weighted moving average technique 
D)  No data

Question 9

If actual demand for a period was 110 and the forecast for that period was 105, what is the forecast error for the period?

Accepted Answer

A)  5 
B)  -5 
C)  0 
D)  Forecast error cannot be determined by the information given 
A)  5 
B)  -5 
C)  0 
D)  Forecast error cannot be determined by the information given

Question 10

In a linear trend forecast, a represents __________ while b represents __________.

Accepted Answer

A)  Slope of the regression line, vertical axis intercept of the line 
B)  The forecast value, the demand value 
C)  Vertical axis of the line, slope of the regression line 
D)  Slope of the regression line, horizontal axis intercept of the line 
A)  Slope of the regression line, vertical axis intercept of the line 
B)  The forecast value, the demand value 
C)  Vertical axis of the line, slope of the regression line 
D)  Slope of the regression line, horizontal axis intercept of the line

Question 11

What department within a firm uses demand forecasts to manage inventory and transportation?

Accepted Answer

A)  Operations 
B)  Distribution 
C)  Marketing 
D)  Supply management 
A)  Operations 
B)  Distribution 
C)  Marketing 
D)  Supply management

Question 12

CPFR relies heavily on?

Accepted Answer

A)  Firms retaining information 
B)  Firms acting independently 
C)  Firms acting in their own best interest 
D)  Firms sharing information 
A)  Firms retaining information 
B)  Firms acting independently 
C)  Firms acting in their own best interest 
D)  Firms sharing information

Question 13

A positive error implies that a forecast was?

Accepted Answer

A)  Too low 
B)  Too high 
C)  Neither too low nor too high 
D)  The sign of an error gives no information as to the direction of the error 
A)  Too low 
B)  Too high 
C)  Neither too low nor too high 
D)  The sign of an error gives no information as to the direction of the error

Question 14

Chairman Cat Products produces cat trees that are sold by several large pet stores. They sold 190, 210, and 208 cat trees in January, February, and March, respectively. Assuming that the first forecast value (for January) is set to 190, what is the exponential smoothing forecast for February? Assume a smoothing constant value of 0.7.

Accepted Answer

A)  190 
B)  204 
C)  206.8 
D)  Cannot be determined from the information given 
A)  190 
B)  204 
C)  206.8 
D)  Cannot be determined from the information given

Question 15

Chairman Cat Products produces cat trees that are sold by several large pet stores. They sold 190, 210, and 208 cat trees in January, February, and March, respectively. Assuming that the first forecast value (for January) is set to 190, what is the exponential smoothing forecast for March? Assume a smoothing constant value of 0.4.

Accepted Answer

A)  190 
B)  198 
C)  202 
D)  Cannot be determined from the information given 
A)  190 
B)  198 
C)  202 
D)  Cannot be determined from the information given

Question 16

When developing a forecast, sales force personnel might be inclined to overestimate demand to achieve greater bonuses.

Accepted Answer

A) True 
 B)False

Question 17

Random variation ________ be predicted.

Accepted Answer

The answer of Random variation ________ be predicted....

Question 18

Chairman Cat Products produces cat trees that are sold by several large pet stores. They sold 190, 210, and 208 cat trees in January, February, and March, respectively. Assuming that the first forecast value (for January) is set to 190, what is the exponential smoothing forecast for April? Assume a smoothing constant value of 0.4.

Accepted Answer

A)  190 
B)  198 
C)  202 
D)  Cannot be determined from the information given 
A)  190 
B)  198 
C)  202 
D)  Cannot be determined from the information given

Question 19

Meeting forecasted demand while minimizing costs and maximizing customer service over a series of planning periods is broadly referred to as?

Accepted Answer

A)  Aggregate planning 
B)  Collaborative planning 
C)  Supply chain management 
D)  Value chain management 
A)  Aggregate planning 
B)  Collaborative planning 
C)  Supply chain management 
D)  Value chain management

Question 20

Different products that share similar characteristics, components, and/or manufacturing processes are referred to as?

Accepted Answer

A)  A product grouping 
B)  A product flock 
C)  A product matching 
D)  A product family 
A)  A product grouping 
B)  A product flock 
C)  A product matching 
D)  A product family

The weighted moving average forecasting technique tends to do a good job tracking trend in demand.

The measure of the variation in the dependent variable that can be explained by the independent variable is?

Meeting forecasted demand while minimizing costs and maximizing customer service over a series of planning periods is broadly referred to as?

The department within a firm that oversees procurement is likely which of the following?

If a trend line is given as Demand = 65 + 21(Time) then what is the vertical axis intercept of the trend line?

Trend variation in a time series would most likely be characterized as?

If a trend line is given as Demand = 135 - 14(Time) then what is the slope of the trend line?

The exponential smoothing forecasting method requires?

If actual demand for a period was 110 and the forecast for that period was 105, what is the forecast error for the period?

In a linear trend forecast, a represents while b represents .

What department within a firm uses demand forecasts to manage inventory and transportation?

CPFR relies heavily on?

A positive error implies that a forecast was?

When developing a forecast, sales force personnel might be inclined to overestimate demand to achieve greater bonuses.

Random variation ________ be predicted.

Meeting forecasted demand while minimizing costs and maximizing customer service over a series of planning periods is broadly referred to as?

Different products that share similar characteristics, components, and/or manufacturing processes are referred to as?

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

The weighted moving average forecasting technique tends to do a good job tracking trend in demand.

The measure of the variation in the dependent variable that can be explained by the independent variable is?

Meeting forecasted demand while minimizing costs and maximizing customer service over a series of planning periods is broadly referred to as?

The department within a firm that oversees procurement is likely which of the following?

If a trend line is given as Demand = 65 + 21(Time) then what is the vertical axis intercept of the trend line?

Trend variation in a time series would most likely be characterized as?

If a trend line is given as Demand = 135 - 14(Time) then what is the slope of the trend line?

The exponential smoothing forecasting method requires?

If actual demand for a period was 110 and the forecast for that period was 105, what is the forecast error for the period?

In a linear trend forecast, a represents __________ while b represents __________.

What department within a firm uses demand forecasts to manage inventory and transportation?

CPFR relies heavily on?

A positive error implies that a forecast was?

When developing a forecast, sales force personnel might be inclined to overestimate demand to achieve greater bonuses.

Random variation ________ be predicted.

Meeting forecasted demand while minimizing costs and maximizing customer service over a series of planning periods is broadly referred to as?

Different products that share similar characteristics, components, and/or manufacturing processes are referred to as?

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

In a linear trend forecast, a represents while b represents .