Question 1

Yamaha manufactures which set of products with complementary demands to address seasonal variations?

Accepted Answer

A) golf clubs and skis 
B) swimming suits and winter jackets 
C) jet skis and snowmobiles 
D) pianos and guitars 
E) ice skates and water skis 
A) golf clubs and skis 
B) swimming suits and winter jackets 
C) jet skis and snowmobiles 
D) pianos and guitars 
E) ice skates and water skis

Question 2

Describe three popular measures of forecast accuracy.

Accepted Answer

Measures of forecast accuracy include: (

Question 3

Gradual upward or downward movement of data over time is called:

Accepted Answer

A) seasonality. 
B) a cycle. 
C) a trend. 
D) exponential variation. 
E) random variation. 
A) seasonality. 
B) a cycle. 
C) a trend. 
D) exponential variation. 
E) random variation.

Question 4

In time series,which of the following cannot be predicted?

Accepted Answer

A) large increases in demand 
B) cycles 
C) seasonal fluctuations 
D) random variations 
E) large decreases in demand 
A) large increases in demand 
B) cycles 
C) seasonal fluctuations 
D) random variations 
E) large decreases in demand

Question 5

What is focus forecasting?

Accepted Answer

It is a forecasting method tha

Question 6

Demand for a certain product is forecast to be 800 units per month,averaged over all 12 months of the year.The product follows a seasonal pattern,for which the January monthly index is 1.25.What is the seasonally-adjusted sales forecast for January?

Accepted Answer

A) 640 units 
B) 798.75 units 
C) 801.25 units 
D) 1000 units 
E) 83.33 units 
A) 640 units 
B) 798.75 units 
C) 801.25 units 
D) 1000 units 
E) 83.33 units

Question 7

Mean squared error and exponential smoothing are two measures of the overall error of a forecasting model.

Accepted Answer

A) True 
 B)False

Question 8

A skeptical manager asks what long-range forecasts can be used for.Give her three possible uses/purposes.

Accepted Answer

Any three of: planning for new

Question 9

Which time-series model uses BOTH past forecasts and past demand data to generate a new forecast?

Accepted Answer

A) naïve 
B) moving average 
C) weighted moving average 
D) exponential smoothing 
E) trend projection 
A) naïve 
B) moving average 
C) weighted moving average 
D) exponential smoothing 
E) trend projection

Question 10

A trend projection equation with a slope of 0.78 means that there is a 0.78 unit rise in Y per period.

Accepted Answer

A) True 
 B)False

Question 11

A seasonal index for a monthly series is about to be calculated on the basis of three years' accumulation of data.The three previous July values were 110,150,and 130.The average demand over all months during the three-year time period was 190 .What is the approximate seasonal index for July?

Accepted Answer

A) 0.487 
B) 0.684 
C) 1.462 
D) 2.053 
E) cannot be calculated with the information given 
A) 0.487 
B) 0.684 
C) 1.462 
D) 2.053 
E) cannot be calculated with the information given

Question 12

Compare seasonal effects and cyclical effects.

Accepted Answer

A cycle is longer (typically several yea

Question 13

Identify two advantages of the moving average forecasting model.Identify two disadvantages of the moving average forecasting model.

Accepted Answer

Advantages of the model include: it uses

Question 14

If a forecast is consistently greater than (or less than)actual values,the forecast is said to be biased.

Accepted Answer

A) True 
 B)False

Question 15

What forecasting systems combine the intelligence of multiple supply chain partners?

Accepted Answer

A) FORE 
B) MULTISUP 
C) CPFR 
D) SUPPLY 
E) MSCP 
A) FORE 
B) MULTISUP 
C) CPFR 
D) SUPPLY 
E) MSCP

Question 16

Which of the following is not a type of qualitative forecasting?

Accepted Answer

A) jury of executive opinion 
B) sales force composite 
C) market survey 
D) Delphi method 
E) moving average 
A) jury of executive opinion 
B) sales force composite 
C) market survey 
D) Delphi method 
E) moving average

Question 17

Taco Bell's unique employee scheduling practices are partly the result of using:

Accepted Answer

A) point-of-sale computers to track food sales in 15 minute intervals. 
B) focus forecasting. 
C) a six-week moving average forecasting technique. 
D) multiple regression. 
E) A and C are both correct. 
A) point-of-sale computers to track food sales in 15 minute intervals. 
B) focus forecasting. 
C) a six-week moving average forecasting technique. 
D) multiple regression. 
E) A and C are both correct.

Question 18

________ forecasts employ one or more mathematical models that rely on historical data and/or associative variables to forecast demand.

Accepted Answer

The answer of ________ forecasts employ one or more mathematical...

Question 19

Identify the four components of a time series.Which one of these is rarely forecast? Why is this so?

Accepted Answer

Trend,seasonality,cycles,and r

Question 20

Which of the following is TRUE regarding the two smoothing constants of the Forecast Including Trend (FIT)model?

Accepted Answer

A) One constant is positive,while the other is negative. 
B) They are called MAD and cumulative error. 
C) Alpha is always smaller than beta. 
D) One constant smoothes the regression intercept,whereas the other smoothes the regression slope. 
E) Their values are determined independently. 
A) One constant is positive,while the other is negative. 
B) They are called MAD and cumulative error. 
C) Alpha is always smaller than beta. 
D) One constant smoothes the regression intercept,whereas the other smoothes the regression slope. 
E) Their values are determined independently.

Exam 4: Forecasting Demand

Yamaha manufactures which set of products with complementary demands to address seasonal variations?

Describe three popular measures of forecast accuracy.

Gradual upward or downward movement of data over time is called:

In time series,which of the following cannot be predicted?

What is focus forecasting?

Demand for a certain product is forecast to be 800 units per month,averaged over all 12 months of the year.The product follows a seasonal pattern,for which the January monthly index is 1.25.What is the seasonally-adjusted sales forecast for January?

Mean squared error and exponential smoothing are two measures of the overall error of a forecasting model.

A skeptical manager asks what long-range forecasts can be used for.Give her three possible uses/purposes.

Which time-series model uses BOTH past forecasts and past demand data to generate a new forecast?

A trend projection equation with a slope of 0.78 means that there is a 0.78 unit rise in Y per period.

A seasonal index for a monthly series is about to be calculated on the basis of three years' accumulation of data.The three previous July values were 110,150,and 130.The average demand over all months during the three-year time period was 190 .What is the approximate seasonal index for July?

Compare seasonal effects and cyclical effects.

Identify two advantages of the moving average forecasting model.Identify two disadvantages of the moving average forecasting model.

If a forecast is consistently greater than (or less than)actual values,the forecast is said to be biased.

What forecasting systems combine the intelligence of multiple supply chain partners?

Which of the following is not a type of qualitative forecasting?

Taco Bell's unique employee scheduling practices are partly the result of using:

________ forecasts employ one or more mathematical models that rely on historical data and/or associative variables to forecast demand.

Identify the four components of a time series.Which one of these is rarely forecast? Why is this so?

Which of the following is TRUE regarding the two smoothing constants of the Forecast Including Trend (FIT)model?

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