Exam 12: Forecasting

Which of the following is a reason why a forecast can go "out of control?"

Forecasting customer demand is rarely a key to providing good quality service.

A gradual,long-term up or down movement of demand is referred to as a trend.

The per period average of cumulative error is called

The type of forecasting method used depends entirely whether the supply chain is continuous replenishment or not.

The type of forecasting method selected depends on time frame,demand behavior and causes of behavior.

Given the demand and forecast values shown in the table below: The three-period moving average forecast for November is

Given the demand and forecast values shown in the table below: The exponential smoothing forecast for November using α = 0.35 is

The demand behavior for skis is considered cyclical.

A linear regression model that relates demand to time is known as a linear trend line.

One reason time series methods are popular for forecasting is that they are relatively easy to use and understand.

An exponential smoothing forecasting technique requires all of the following except

Given the demand and forecast values below,the naïve forecast for September is

Linear regression relates two variables using a linear model.

Continuous replenishment systems rely heavily on extremely accurate long-term forecasts.

Given the following demand data for the past five months,the three period moving average forecast for June is

The Delphi method generates forecasts based on informed judgments and opinions from knowledgeable individuals.

The most common type of forecasting method for long-term strategic planning is based on quantitative modeling

For the demand values and the January forecast shown in the table below the exponential smoothing forecast for March using α = 0.30 is

If forecast errors are normally distributed then