Multiple Choice
With forecasting error being measured in MAD (mean absolute deviation) ,the 3σ control limits imply ______.
A) the probability that the forecasting errors are attributable to random variation is 3%
B) the probability that the forecasting errors are attributable to random variation is 99.7%
C) the probability that the forecasting errors are attributable to random variation is 2.3%
D) the probability that the forecasting errors are attributable to random variation is 50%
Correct Answer:
Verified
Correct Answer:
Verified
Q32: _ are periodic,fairly short-term fluctuations in demand
Q33: _ methods can be used if measurable,historical
Q34: Which of the following statements is true
Q35: One requirement for using the linear trend
Q36: Multiplicative models are used when patterns of
Q38: Which of the following statements is false
Q39: Using the weighted average method,with W₁
Q40: The two broad categories of forecasting methods
Q41: Using the data that follows,compute the seasonal
Q42: Which of the following variations cannot be