Question 1

In the moving average,being slow is acceptable if there is a gradual trend with some variability in successive values.

Accepted Answer

A) True 
 B)False

Question 2

Formal methods can be used to evaluate how well different forecasting techniques are doing.

Accepted Answer

A) True 
 B)False

Question 3

If P/OM know-how is not properly represented,then strategic planning is operating at a limited level.

Accepted Answer

A) True 
 B)False

Question 4

If a moving average trend is gradual,either up or down,and if fluctuations around the average are common,then having fewer periods of time in the set is better than having too many.

Accepted Answer

A) True 
 B)False

Question 5

_____ is a stream of numbers that represent different values over time.

Accepted Answer

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

Question 6

History forecasting is forecasted only on a semiannual,quarterly,or monthly basis.

Accepted Answer

A) True 
 B)False

Question 7

_____ can be used to evaluate how well different forecasting techniques are doing.

Accepted Answer

A) Straight methods 
B) Formal methods 
C) Informal methods 
D) Delphi methods 
A) Straight methods 
B) Formal methods 
C) Informal methods 
D) Delphi methods

Question 8

Delphi is a forecasting method that relies on expert estimation of past events.

Accepted Answer

A) True 
 B)False

Question 9

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 first quarter (1ˢᵗ Q) forecast adjustments would be

Accepted Answer

A) 120(40/100) = 48. 
B) 120(20/100) = 24. 
C) 120(10/100) = 12. 
D) all of the above 
A) 120(40/100) = 48. 
B) 120(20/100) = 24. 
C) 120(10/100) = 12. 
D) all of the above

Question 10

Forecasting cannot be done without mathematics.

Accepted Answer

A) True 
 B)False

Question 11

_____ is the sum of all the error terms and is useful when overestimation errors cancel out underestimation errors.

Accepted Answer

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

Question 12

_____ is the result of dividing each absolute error term by its respective actual demand term.

Accepted Answer

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

Question 13

Weighted moving averages cannot track strong trends more accurately than unweighted moving averages.

Accepted Answer

A) True 
 B)False

Question 14

_____ makes use of the least-square method to estimate the value of future outcomes,yt₊K,if a leading factor xt can be found.

Accepted Answer

A) Exponential smoothing 
B) Delphi method 
C) Weighted moving average 
D) Regression analysis 
A) Exponential smoothing 
B) Delphi method 
C) Weighted moving average 
D) Regression analysis

In the moving average,being slow is acceptable if there is a gradual trend with some variability in successive values.

Formal methods can be used to evaluate how well different forecasting techniques are doing.

If P/OM know-how is not properly represented,then strategic planning is operating at a limited level.

If a moving average trend is gradual,either up or down,and if fluctuations around the average are common,then having fewer periods of time in the set is better than having too many.

_____ is a stream of numbers that represent different values over time.

History forecasting is forecasted only on a semiannual,quarterly,or monthly basis.

_____ can be used to evaluate how well different forecasting techniques are doing.

Delphi is a forecasting method that relies on expert estimation of past events.

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 first quarter (1ˢᵗ Q) forecast adjustments would be

Forecasting cannot be done without mathematics.

_____ is the sum of all the error terms and is useful when overestimation errors cancel out underestimation errors.

_____ is the result of dividing each absolute error term by its respective actual demand term.

Weighted moving averages cannot track strong trends more accurately than unweighted moving averages.

_____ makes use of the least-square method to estimate the value of future outcomes,yt₊K,if a leading factor xt can be found.

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

In the moving average,being slow is acceptable if there is a gradual trend with some variability in successive values.

Formal methods can be used to evaluate how well different forecasting techniques are doing.

If P/OM know-how is not properly represented,then strategic planning is operating at a limited level.

If a moving average trend is gradual,either up or down,and if fluctuations around the average are common,then having fewer periods of time in the set is better than having too many.

_____ is a stream of numbers that represent different values over time.

History forecasting is forecasted only on a semiannual,quarterly,or monthly basis.

_____ can be used to evaluate how well different forecasting techniques are doing.

Delphi is a forecasting method that relies on expert estimation of past events.

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 first quarter (1ˢᵗ Q) forecast adjustments would be

Forecasting cannot be done without mathematics.

_____ is the sum of all the error terms and is useful when overestimation errors cancel out underestimation errors.

_____ is the result of dividing each absolute error term by its respective actual demand term.

Weighted moving averages cannot track strong trends more accurately than unweighted moving averages.

_____ makes use of the least-square method to estimate the value of future outcomes,yt₊K,if a leading factor xt can be found.

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