A) A demand cycle that repeats itself at least once a year B) A correlation between time and demand C) A series of demand values from the past D) A measure of forecast bias A) A demand cycle that repeats itself at least once a year B) A correlation between time and demand C) A series of demand values from the past D) A measure of forecast bias

Compute the MAD and MFE for the following data: \(\begin{array}{ccc} \text {Period }& \text {Demand }& \text {Forecast}\\ 1 & 120 & 105 \\ 2 & 106 & 117 \\ 3 & 140 & 131 \\ 4 & 130 & 138 \\ 5 & 145 & 140 \end{array}\)

The answer of Compute the MAD and MFE for the...

A) Is calculated as forecast minus actual demand. B) Is comprised of absolute error and forecast bias. C) Is comprised of absolute error and trend. D) Only results from randomness. A) Is calculated as forecast minus actual demand. B) Is comprised of absolute error and forecast bias. C) Is comprised of absolute error and trend. D) Only results from randomness.

Exam 10: Demand Forecasting: Building the Foundation for Resource Planning

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A time series is believed to consist of random fluctuation, but no evidence of a trend or seasonality is present. Which forecasting tool would be most appropriate?

(Multiple Choice)

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Question 21

If the MFE had a negative sign

(Multiple Choice)

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Question 22

When using causal forecasting models, the appearances of a relationship between demand and an external variable may be due to correlation.

(True/False)

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Question 23

Using simple exponential smoothing, if we want the forecast to be very responsive to recent demand, the value of alpha should be:

(Multiple Choice)

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Question 24

All plans have a direct impact on net income through net sales.

(True/False)

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Question 25

In some cases, random fluctuation can be significant enough to make it difficult to see trend or seasonality.

(True/False)

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Question 26

A time series is

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Question 27

More changes in the service sector are sure to come as a result of product innovation and service obsolescence.

(True/False)

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Question 28

Match these items. -Cycle

(Multiple Choice)

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Question 29

The techniques used to guide ERP system design are considered to be _ techniques.

(Short Answer)

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Question 30

Match these items. -Mean squared error

(Multiple Choice)

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Question 31

Which of the following statements is accurate regarding simple exponential smoothing?

(Multiple Choice)

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Question 32

Compute the MAD and MFE for the following data: Period Demand Forecast 1 120 105 2 106 117 3 140 131 4 130 138 5 145 140

(Short Answer)

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Question 33

If the value was equal to , the simple exponential smoothing forecast would equal to the naive forecast.

(Short Answer)

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Question 34

Forecasts should be ____ to changes in demand when changes in demand are not indicative of anything in the future.

(Short Answer)

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Question 35

When using a simple moving average to forecast demand, the responsiveness will be increased:

(Multiple Choice)

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Question 36

ERP systems are designed to integrate all aspects of an organization through one ___.

(Short Answer)

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Question 37

Forecast error

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Question 38

When using simple linear regression as a causal forecasting tool :

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Question 39

A toy manufacturer wants to predict quarterly demand for a certain product line for periods 13 and 14, which happen to be the second and third quarters of a particular year. The series consists of both trend and seasonality. The trend portion of demand is projected using the equation g t= 130 + 7.8t. Quarterly seasonal indices are Q1= 1.10, Q2= 1.20, Q3= 0.95, and Q4= 0.75. Use this information to predict demand for periods 13 and 14.

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Question 40

Showing 21 - 40 of 61

A time series is believed to consist of random fluctuation, but no evidence of a trend or seasonality is present. Which forecasting tool would be most appropriate?

If the MFE had a negative sign

When using causal forecasting models, the appearances of a relationship between demand and an external variable may be due to correlation.

Using simple exponential smoothing, if we want the forecast to be very responsive to recent demand, the value of alpha should be:

All plans have a direct impact on net income through net sales.

In some cases, random fluctuation can be significant enough to make it difficult to see trend or seasonality.

A time series is

More changes in the service sector are sure to come as a result of product innovation and service obsolescence.

Match these items. -Cycle

The techniques used to guide ERP system design are considered to be _ techniques.

Match these items. -Mean squared error

Which of the following statements is accurate regarding simple exponential smoothing?

Compute the MAD and MFE for the following data: Period Demand Forecast 1 120 105 2 106 117 3 140 131 4 130 138 5 145 140

If the value was equal to , the simple exponential smoothing forecast would equal to the naive forecast.

Forecasts should be ____ to changes in demand when changes in demand are not indicative of anything in the future.

When using a simple moving average to forecast demand, the responsiveness will be increased:

ERP systems are designed to integrate all aspects of an organization through one ___.

Forecast error

When using simple linear regression as a causal forecasting tool :

Introduction: Why Operations Management

Profitability: Business Success From Operations Success

Strategy and Value: Competing Through Operations

Processes: Turning Resources Into Capabilities

Cost: The Price of Value Creation

Quality: Meeting Customer Expectations

Quality Tools: From Process Performance to Process Perfection

Timeliness: Scheduling and Project Management

Supply Chain Management: Managing Business to Business Interactions

Inventory: Managing to Meet Demand

Logistics: Positioning Goods in the Supply Chain

Lean Systems: Eliminating Waste Through the Supply Chain

Capacity: Matching Productive Resources to Demand

Constraint Management: Simplifying Complex Systems

Facilities: Making Location and Layout Decisions

Workforce: Optimizing Human Capital Printed

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Exam 10: Demand Forecasting: Building the Foundation for Resource Planning

A time series is believed to consist of random fluctuation, but no evidence of a trend or seasonality is present. Which forecasting tool would be most appropriate?

If the MFE had a negative sign

When using causal forecasting models, the appearances of a relationship between demand and an external variable may be due to correlation.

Using simple exponential smoothing, if we want the forecast to be very responsive to recent demand, the value of alpha should be:

All plans have a direct impact on net income through net sales.

In some cases, random fluctuation can be significant enough to make it difficult to see trend or seasonality.

A time series is

More changes in the service sector are sure to come as a result of product innovation and service obsolescence.

Match these items. -Cycle

The techniques used to guide ERP system design are considered to be ____ _____ techniques.

Match these items. -Mean squared error

Which of the following statements is accurate regarding simple exponential smoothing?

Compute the MAD and MFE for the following data: Period Demand Forecast 1 120 105 2 106 117 3 140 131 4 130 138 5 145 140

If the ____ value was equal to ____, the simple exponential smoothing forecast would equal to the naive forecast.

Forecasts should be ____ to changes in demand when changes in demand are not indicative of anything in the future.

When using a simple moving average to forecast demand, the responsiveness will be increased:

ERP systems are designed to integrate all aspects of an organization through one ______ _________.

Forecast error

When using simple linear regression as a causal forecasting tool :

Introduction: Why Operations Management

Profitability: Business Success From Operations Success

Strategy and Value: Competing Through Operations

Processes: Turning Resources Into Capabilities

Cost: The Price of Value Creation

Quality: Meeting Customer Expectations

Quality Tools: From Process Performance to Process Perfection

Timeliness: Scheduling and Project Management

Supply Chain Management: Managing Business to Business Interactions

Inventory: Managing to Meet Demand

Logistics: Positioning Goods in the Supply Chain

Lean Systems: Eliminating Waste Through the Supply Chain

Capacity: Matching Productive Resources to Demand

Constraint Management: Simplifying Complex Systems

Facilities: Making Location and Layout Decisions

Workforce: Optimizing Human Capital Printed

Filters

The techniques used to guide ERP system design are considered to be _ techniques.

If the value was equal to , the simple exponential smoothing forecast would equal to the naive forecast.

ERP systems are designed to integrate all aspects of an organization through one ___.