Question 1

Given forecast errors of -5,-10,and 15,what is the mean absolute deviation?

Accepted Answer

A) 0 
B) 5 
C) 10 
D) 30 
E) None of the above 
A) 0 
B) 5 
C) 10 
D) 30 
E) None of the above C

Question 2

A smoothing constant of 0 1 will cause an exponential smoothing forecast to react more quickly to a sudden change than a value of 0 3 will

Accepted Answer

A) True 
 B)False  False

Question 3

The president of State University wants to forecast student enrollment for this academic year based on the following historical data:
Year :Enrollments
5 years ago :15,000
4 years ago :16,000
3 years ago :18,000
2 years ago :20,000
Last year :21,000
-What is the forecast for this year using exponential smoothing with $\alpha$= 0 5,if the forecast for two years ago was 16,000?

Accepted Answer

A) 18,750 
B) 19,500 
C) 21,000 
D) 22,650 
E) 22,800 
A) 18,750 
B) 19,500 
C) 21,000 
D) 22,650 
E) 22,800 B

Question 4

The mean absolute deviation is used to:

Accepted Answer

A) estimate the trend line 
B) eliminate forecast errors 
C) measure forecast accuracy 
D) seasonally adjust the forecast 
E) All of the above 
A) estimate the trend line 
B) eliminate forecast errors 
C) measure forecast accuracy 
D) seasonally adjust the forecast 
E) All of the above

Question 5

The last-value forecasting method is most useful when conditions are stable over time

Accepted Answer

A) True 
 B)False

Question 6

The business analyst for Ace Business Machines,Inc.wants to forecast this year's demand for manual typewriters based on the following historical data:
Time Period :Demand
5 years ago :900
4 years ago : 700
3 years ago : 600
2 years ago :500
Last year :300
-What is the forecast for this year using the last-value forecasting method?

Accepted Answer

A) 49 
B) 50 
C) 52 
D) 65 
E) 78 
A) 49 
B) 50 
C) 52 
D) 65 
E) 78

Question 7

Forecasting techniques such as moving-average,exponential smoothing,and the last-value method all represent averaged values of time-series data

Accepted Answer

A) True 
 B)False

Question 8

The mean absolute deviation is more sensitive to large deviations than the mean square error

Accepted Answer

A) True 
 B)False

Question 9

Gradual,long-term movement in time-series values is called:

Accepted Answer

A) seasonal variation 
B) trend 
C) cycles 
D) irregular variation 
E) random variation 
A) seasonal variation 
B) trend 
C) cycles 
D) irregular variation 
E) random variation

Question 10

Forecasts are rarely perfect

Accepted Answer

A) True 
 B)False

Question 11

Professor Z needs to allocate time among several tasks next week to include time for students' appointments.Thus,he needs to forecast the number of students who will seek appointments.He has gathered the following data:
Week # of students
6 weeks ago 83
5 weeks ago 110
4 weeks ago 95
3 weeks ago 80
2 weeks ago 65
Last week 50
-What is the forecast for this year using the last-value forecasting method?

Accepted Answer

A) 22,000 
B) 20,000 
C) 18,000 
D) 15,000 
E) 12,000 
A) 22,000 
B) 20,000 
C) 18,000 
D) 15,000 
E) 12,000

Question 12

Professor Z needs to allocate time among several tasks next week to include time for students' appointments.Thus,he needs to forecast the number of students who will seek appointments.He has gathered the following data:
Week # of students
6 weeks ago 83
5 weeks ago 110
4 weeks ago 95
3 weeks ago 80
2 weeks ago 65
Last week 50
-What is the forecast for this year using a moving-average forecast based on the last three weeks?

Accepted Answer

A) 49 
B) 50 
C) 52 
D) 65 
E) 78 
A) 49 
B) 50 
C) 52 
D) 65 
E) 78

Question 13

Given forecast errors of 4,8,and -3,what is the mean square error?

Accepted Answer

A) 5 
B) 9 
C) 25 
D) 29 67 
E) 89 
A) 5 
B) 9 
C) 25 
D) 29 67 
E) 89

Question 14

Using the latest value in a sequence of data to forecast the next period is:

Accepted Answer

A) a moving-average forecast 
B) a last-value forecast 
C) an exponentially smoothed forecast 
D) a causal forecast 
E) None of the above 
A) a moving-average forecast 
B) a last-value forecast 
C) an exponentially smoothed forecast 
D) a causal forecast 
E) None of the above

Question 15

The business analyst for Ace Business Machines,Inc.wants to forecast this year's demand for manual typewriters based on the following historical data:
Time Period :Demand
5 years ago :900
4 years ago : 700
3 years ago : 600
2 years ago :500
Last year :300
-What is the forecast for this year using exponential smoothing with $\alpha$ = 0 4,if the forecast for two years ago was 750?

Accepted Answer

A) 163 
B) 180 
C) 300 
D) 467 
E) 510 
A) 163 
B) 180 
C) 300 
D) 467 
E) 510

Question 16

The sales force composite method is a top-down approach to forecasting

Accepted Answer

A) True 
 B)False

Question 17

Causal forecasting obtains a forecast for a dependent variable by relating it directly to one or more independent variables

Accepted Answer

A) True 
 B)False

Question 18

Which of the following are costs of an inaccurate forecast?

Accepted Answer

A) Lost sales 
B) Inventory 
C) An understaffed office 
D) Lower profits 
E) All of the above 
A) Lost sales 
B) Inventory 
C) An understaffed office 
D) Lower profits 
E) All of the above

Question 19

In business,forecasts are the basis for:

Accepted Answer

A) sales planning 
B) inventory planning 
C) production planning 
D) budgeting 
E) All of the above 
A) sales planning 
B) inventory planning 
C) production planning 
D) budgeting 
E) All of the above

Question 20

Forecasts can help a manager to:

Accepted Answer

A) anticipate the future 
B) develop strategies 
C) make staffing decisions 
D) All of the above 
E) None of the above 
A) anticipate the future 
B) develop strategies 
C) make staffing decisions 
D) All of the above 
E) None of the above

Given forecast errors of -5,-10,and 15,what is the mean absolute deviation?

A smoothing constant of 0 1 will cause an exponential smoothing forecast to react more quickly to a sudden change than a value of 0 3 will

The mean absolute deviation is used to:

The last-value forecasting method is most useful when conditions are stable over time

Forecasting techniques such as moving-average,exponential smoothing,and the last-value method all represent averaged values of time-series data

The mean absolute deviation is more sensitive to large deviations than the mean square error

Gradual,long-term movement in time-series values is called:

Forecasts are rarely perfect

Given forecast errors of 4,8,and -3,what is the mean square error?

Using the latest value in a sequence of data to forecast the next period is:

The sales force composite method is a top-down approach to forecasting

Causal forecasting obtains a forecast for a dependent variable by relating it directly to one or more independent variables

Which of the following are costs of an inaccurate forecast?

In business,forecasts are the basis for:

Forecasts can help a manager to:

Introduction

Linear programming: Basic Concepts

Linear programming: Formulation and applications

Theart of modeling with spread sheets

What-If Analysis for linear programming

Network optimization problems

Using binary integer programming to deal withy es-Or-No decisions

Non linear programming

Decision Analysis

Queuing models

Computer simulation: Basic Concepts

Computer simulation with risks olver platform

Solution concepts for linear programming

Transportation and assignment problems

Pert CPM models for project management

Goal programming

Inventory management with known demand

Inventory management with uncertain demand

Computer simulation with crystal ball

Filters

Exam 10: Forecasting

Given forecast errors of -5,-10,and 15,what is the mean absolute deviation?

A smoothing constant of 0 1 will cause an exponential smoothing forecast to react more quickly to a sudden change than a value of 0 3 will

The mean absolute deviation is used to:

The last-value forecasting method is most useful when conditions are stable over time

Forecasting techniques such as moving-average,exponential smoothing,and the last-value method all represent averaged values of time-series data

The mean absolute deviation is more sensitive to large deviations than the mean square error

Gradual,long-term movement in time-series values is called:

Forecasts are rarely perfect

Given forecast errors of 4,8,and -3,what is the mean square error?

Using the latest value in a sequence of data to forecast the next period is:

The sales force composite method is a top-down approach to forecasting

Causal forecasting obtains a forecast for a dependent variable by relating it directly to one or more independent variables

Which of the following are costs of an inaccurate forecast?

In business,forecasts are the basis for:

Forecasts can help a manager to:

Introduction

Linear programming: Basic Concepts

Linear programming: Formulation and applications

Theart of modeling with spread sheets

What-If Analysis for linear programming

Network optimization problems

Using binary integer programming to deal withy es-Or-No decisions

Non linear programming

Decision Analysis

Queuing models

Computer simulation: Basic Concepts

Computer simulation with risks olver platform

Solution concepts for linear programming

Transportation and assignment problems

Pert CPM models for project management

Goal programming

Inventory management with known demand

Inventory management with uncertain demand

Computer simulation with crystal ball

Filters