Question 1

Employ weights of 0.4,0.3,and 0.3 to obtain a weighted moving average for April,May and June.Calculate the error terms.

Accepted Answer

Forecast for April = .4(16) + .3 (12) +

Question 2

To calculate _____,take the sum of the absolute measures of the errors and divide that sum by the number of observations.

Accepted Answer

A) MAD 
B) MSE 
C) CFE 
D) MAPE 
A) MAD 
B) MSE 
C) CFE 
D) MAPE

Question 3

The coefficient of determination is the square of the corelation coefficient.

Accepted Answer

A) True 
 B)False

Question 4

Time series data also can reflect erratic bursts called pulses.

Accepted Answer

A) True 
 B)False

Question 5

Assume that in 2008 the quarterly demands were 10,30,20,and 40.This gives a yearly demand of 100 units.Further,assume that in 2009 the annual demand is expected to increase to 120 units.Then,the model for the second quarter (2ⁿᵈ Q) forecast adjustments would be

Accepted Answer

A) 120(35/100) = 42. 
B) 120(30/100) = 36. 
C) 120(20/120) = 20. 
D) 120(40/150) = 32. 
A) 120(35/100) = 42. 
B) 120(30/100) = 36. 
C) 120(20/120) = 20. 
D) 120(40/150) = 32.

Question 6

_____ is the process of moving from observed data to the projected values of future points.

Accepted Answer

A) Time series 
B) Extrapolation 
C) Cycle time 
D) Time series analysis 
A) Time series 
B) Extrapolation 
C) Cycle time 
D) Time series analysis

Question 7

When actual demand is greater than the forecast,there is a forecasting _____.

Accepted Answer

A) overestimate 
B) underestimate 
C) both a and b 
D) neither a nor b 
A) overestimate 
B) underestimate 
C) both a and b 
D) neither a nor b

Question 8

How far to go back in calculating moving averages depends on the recency of events that tend to determine the future. "Very recent" means more values;"not so recent" means few values.

Accepted Answer

A) True 
 B)False

Question 9

A way to make forecasts more responsible to the most recent actual occurrences is to use weighted moving averages.

Accepted Answer

A) True 
 B)False

Question 10

Illustrating the distinction between strategies and tactics helps to further define strategy: This entails doing "things" right (tactical choice) before doing the right "thing" (strategic choice)!

Accepted Answer

A) True 
 B)False

Question 11

Not all forecasting errors are based on comparing the actual demand for a time period with the forecast demand for that same period.

Accepted Answer

A) True 
 B)False

Question 12

When is regression analysis recommended?

Accepted Answer

Regression analysis is useful when tryin

Question 13

During the growth stage the input-output relationship reaches equilibrium.

Accepted Answer

A) True 
 B)False

Question 14

When the direction and magnitude of the trend is inconclusive and the pattern is not consistent,then the fewer the number of periods in the set,the better.

Accepted Answer

A) True 
 B)False

Question 15

What are decision trees and how do they aid decision making?

Accepted Answer

Decision trees allow users to structure

Question 16

_____ is the comprehensive and overall planning for the organization's future.

Accepted Answer

A) Adaptation 
B) Conversion 
C) Profit maximization 
D) Strategy 
A) Adaptation 
B) Conversion 
C) Profit maximization 
D) Strategy

Question 17

Increased competition has led to higher levels of market volatility.

Accepted Answer

A) True 
 B)False

Question 18

Much time and talent is needed to conceptualize the product,design its specifics,organize the process for making it,cost it out,pilot test it,and so forth.When the product is accepted,it is released for production and marketing.All of this takes place in the _____ stage.

Accepted Answer

A) growth 
B) maturity 
C) introduction 
D) decline 
A) growth 
B) maturity 
C) introduction 
D) decline

Question 19

It is not necessary for various forecasters in an organization to pool or share their forecasts and information.

Accepted Answer

A) True 
 B)False

Question 20

_____ allow(s) P/OM to excel at capacity planning and production scheduling for mature manufactured products and services.

Accepted Answer

A) Forecasting 
B) Seasonal cycles 
C) Historical cycles 
D) Semiannual forecasting 
A) Forecasting 
B) Seasonal cycles 
C) Historical cycles 
D) Semiannual forecasting

Employ weights of 0.4,0.3,and 0.3 to obtain a weighted moving average for April,May and June.Calculate the error terms.

To calculate _____,take the sum of the absolute measures of the errors and divide that sum by the number of observations.

The coefficient of determination is the square of the corelation coefficient.

Time series data also can reflect erratic bursts called pulses.

Assume that in 2008 the quarterly demands were 10,30,20,and 40.This gives a yearly demand of 100 units.Further,assume that in 2009 the annual demand is expected to increase to 120 units.Then,the model for the second quarter (2ⁿᵈ Q) forecast adjustments would be

_____ is the process of moving from observed data to the projected values of future points.

When actual demand is greater than the forecast,there is a forecasting _____.

How far to go back in calculating moving averages depends on the recency of events that tend to determine the future. "Very recent" means more values;"not so recent" means few values.

A way to make forecasts more responsible to the most recent actual occurrences is to use weighted moving averages.

Illustrating the distinction between strategies and tactics helps to further define strategy: This entails doing "things" right (tactical choice) before doing the right "thing" (strategic choice)!

Not all forecasting errors are based on comparing the actual demand for a time period with the forecast demand for that same period.

When is regression analysis recommended?

During the growth stage the input-output relationship reaches equilibrium.

When the direction and magnitude of the trend is inconclusive and the pattern is not consistent,then the fewer the number of periods in the set,the better.

What are decision trees and how do they aid decision making?

_____ is the comprehensive and overall planning for the organization's future.

Increased competition has led to higher levels of market volatility.

Much time and talent is needed to conceptualize the product,design its specifics,organize the process for making it,cost it out,pilot test it,and so forth.When the product is accepted,it is released for production and marketing.All of this takes place in the _____ stage.

It is not necessary for various forecasters in an organization to pool or share their forecasts and information.

_____ allow(s) P/OM to excel at capacity planning and production scheduling for mature manufactured products and services.

Product Line Planning and the Systems Approach

Productivity and Strategic Planning

Understanding Quality: ITS Management and Strategic Importance

Process Configuration Strategies

Process Analysis and Redesign

Quality Assurance

Management of Technology Mot

Teamwork Planning Requires Job Design

Supply Chain Capacity Planning

Facilities Planning: Location and Layout

Materials Management Impacts All Supply Chain Participants

Aggregate Planning to Balance Supply and Demand

Inventory Management for Smooth and Continuous Demand Patterns

Material Requirements Planning Mrp for Sporadic Demand Patterns

Production Scheduling for Manufacturing and Service Operations

Cycle-Time Management Increases Productivity

Project Management for New Products and Processes

Change Management With Faster Project Completions

Sustainability Issues: Environment, Ethics, and Security

Filters

Exam 3: Demand Creation and Predictive Planning

Employ weights of 0.4,0.3,and 0.3 to obtain a weighted moving average for April,May and June.Calculate the error terms.

To calculate _____,take the sum of the absolute measures of the errors and divide that sum by the number of observations.

The coefficient of determination is the square of the corelation coefficient.

Time series data also can reflect erratic bursts called pulses.

Assume that in 2008 the quarterly demands were 10,30,20,and 40.This gives a yearly demand of 100 units.Further,assume that in 2009 the annual demand is expected to increase to 120 units.Then,the model for the second quarter (2ⁿᵈ Q) forecast adjustments would be

_____ is the process of moving from observed data to the projected values of future points.

When actual demand is greater than the forecast,there is a forecasting _____.

How far to go back in calculating moving averages depends on the recency of events that tend to determine the future. "Very recent" means more values;"not so recent" means few values.

A way to make forecasts more responsible to the most recent actual occurrences is to use weighted moving averages.

Illustrating the distinction between strategies and tactics helps to further define strategy: This entails doing "things" right (tactical choice) before doing the right "thing" (strategic choice)!

Not all forecasting errors are based on comparing the actual demand for a time period with the forecast demand for that same period.

When is regression analysis recommended?

During the growth stage the input-output relationship reaches equilibrium.

When the direction and magnitude of the trend is inconclusive and the pattern is not consistent,then the fewer the number of periods in the set,the better.

What are decision trees and how do they aid decision making?

_____ is the comprehensive and overall planning for the organization's future.

Increased competition has led to higher levels of market volatility.

Much time and talent is needed to conceptualize the product,design its specifics,organize the process for making it,cost it out,pilot test it,and so forth.When the product is accepted,it is released for production and marketing.All of this takes place in the _____ stage.

It is not necessary for various forecasters in an organization to pool or share their forecasts and information.

_____ allow(s) P/OM to excel at capacity planning and production scheduling for mature manufactured products and services.

Product Line Planning and the Systems Approach

Productivity and Strategic Planning

Understanding Quality: ITS Management and Strategic Importance

Process Configuration Strategies

Process Analysis and Redesign

Quality Assurance

Management of Technology Mot

Teamwork Planning Requires Job Design

Supply Chain Capacity Planning

Facilities Planning: Location and Layout

Materials Management Impacts All Supply Chain Participants

Aggregate Planning to Balance Supply and Demand

Inventory Management for Smooth and Continuous Demand Patterns

Material Requirements Planning Mrp for Sporadic Demand Patterns

Production Scheduling for Manufacturing and Service Operations

Cycle-Time Management Increases Productivity

Project Management for New Products and Processes

Change Management With Faster Project Completions

Sustainability Issues: Environment, Ethics, and Security

Filters