Question 1

Discuss the importance of accurate forecasts in supply chain management.

Accepted Answer

A company's supply chain encompasses all

Question 2

Because of globalization of markets,managers are finding it increasingly more difficult to create accurate demand forecasts.

Accepted Answer

A) True 
 B)False

Question 3

A correlation coefficient is a measure of the strength of the linear relationship between an independent and a dependent variable.

Accepted Answer

A) True 
 B)False

Question 4

Regression forecasting methods relate _________to other factors that cause demand behavior.

Accepted Answer

A) Supply 
B) Demand 
C) Time 
D) Money 
E) Efficiency 
A) Supply 
B) Demand 
C) Time 
D) Money 
E) Efficiency

Question 5

Many companies are shifting from long-term to short-term forecast for strategic planning.

Accepted Answer

A) True 
 B)False

Question 6

For the demand values and the January forecast shown in the table below the exponential smoothing forecast for March using α = 0.40 is

Accepted Answer

A) 1200. 
B) 1220. 
C) 1222. 
D) 1225. 
A) 1200. 
B) 1220. 
C) 1222. 
D) 1225.

Question 7

The weighted moving average forecast for the fifth period with weights of 0.15 for period 1,0.20 for period 2,0.25 for period 3,and 0.40 for period 4,using the demand data shown below is

Accepted Answer

A) 3760 
B) 3700 
C) 3650 
D) 3325 
A) 3760 
B) 3700 
C) 3650 
D) 3325

Question 8

Because of advances in technology,many service industries no longer require accurate forecasts to provide high quality service.

Accepted Answer

A) True 
 B)False

Question 9

A forecasting model has produced the following forecasts:
 
The mean absolute deviation (MAD)for the end of May is

Accepted Answer

A) 7.0. 
B) 7.5. 
C) 10.0 
D) 3.0 
A) 7.0. 
B) 7.5. 
C) 10.0 
D) 3.0

Question 10

The sum of the weights in a weighted moving average forecast

Accepted Answer

A) must equal the number of periods being averaged. 
B) must equal 1.00. 
C) must be less than 1.00. 
D) must be greater than 1.00. 
A) must equal the number of periods being averaged. 
B) must equal 1.00. 
C) must be less than 1.00. 
D) must be greater than 1.00.

Question 11

Long-range qualitative forecasts are used to determine future demand for new products,markets and customers.

Accepted Answer

A) True 
 B)False

Question 12

Compare and contrast short-mid-range forecasts and long-range forecasts.

Accepted Answer

Forecasts are either short-to mid-range,

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

The moving average method is used for creating forecasts when there is no variation in demand.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is not a type of predictable demand behavior?

Accepted Answer

A) trend 
B) random variation 
C) cycle 
D) seasonal pattern 
A) trend 
B) random variation 
C) cycle 
D) seasonal pattern

Question 16

Sharing demand forecasts with supply chain members has resulted in an increased bullwhip effect.

Accepted Answer

A) True 
 B)False

Question 17

Forecasts based on mathematical formulas are referred to as qualitative forecasts.

Accepted Answer

A) True 
 B)False

Question 18

A seasonal pattern is an oscillating movement in demand that occurs periodically over the short-run and is repetitive.

Accepted Answer

A) True 
 B)False

Question 19

A forecasting model has produced the following forecasts:
 
At the end of May the tracking signal would be

Accepted Answer

A) 0.000. 
B) 0.667. 
C) 1.333. 
D) 2.143. 
A) 0.000. 
B) 0.667. 
C) 1.333. 
D) 2.143.

Question 20

Correlation is a measure of the strength of the

Accepted Answer

A) nonlinear relationship between two dependent variables. 
B) nonlinear relationship between a dependent and independent variable. 
C) linear relationship between two dependent variables. 
D) linear relationship between a dependent and independent variable. 
A) nonlinear relationship between two dependent variables. 
B) nonlinear relationship between a dependent and independent variable. 
C) linear relationship between two dependent variables. 
D) linear relationship between a dependent and independent variable.

Exam 12: Forecasting

Discuss the importance of accurate forecasts in supply chain management.

Because of globalization of markets,managers are finding it increasingly more difficult to create accurate demand forecasts.

A correlation coefficient is a measure of the strength of the linear relationship between an independent and a dependent variable.

Regression forecasting methods relate _________to other factors that cause demand behavior.

Many companies are shifting from long-term to short-term forecast for strategic planning.

For the demand values and the January forecast shown in the table below the exponential smoothing forecast for March using α = 0.40 is

The weighted moving average forecast for the fifth period with weights of 0.15 for period 1,0.20 for period 2,0.25 for period 3,and 0.40 for period 4,using the demand data shown below is

Because of advances in technology,many service industries no longer require accurate forecasts to provide high quality service.

A forecasting model has produced the following forecasts: The mean absolute deviation (MAD)for the end of May is

The sum of the weights in a weighted moving average forecast

Long-range qualitative forecasts are used to determine future demand for new products,markets and customers.

Compare and contrast short-mid-range forecasts and long-range forecasts.

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

The moving average method is used for creating forecasts when there is no variation in demand.

Which of the following is not a type of predictable demand behavior?

Sharing demand forecasts with supply chain members has resulted in an increased bullwhip effect.

Forecasts based on mathematical formulas are referred to as qualitative forecasts.

A seasonal pattern is an oscillating movement in demand that occurs periodically over the short-run and is repetitive.

A forecasting model has produced the following forecasts: At the end of May the tracking signal would be

Correlation is a measure of the strength of the

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