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Exam 4: Forecasting

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Question 31

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

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Any three of: planning purchas...

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Question 32

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The last four weekly values of sales were 80, 100, 105, and 90 units. The last four forecasts were 60, 80, 95, and 75 units. These forecasts illustrate:

A) qualitative methods.
B) adaptive smoothing.
C) slope.
D) bias.
E) trend projection.

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Question 33

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

Given an actual demand this period of 103, a forecast value for this period of 99, and an alpha of .6, what is the exponential smoothing forecast for next period?

The sales force composite forecasting method relies on salespersons' estimates of expected sales.

In trend projection, a negative regression slope is mathematically impossible.

Increasing the number of periods in a moving average will accomplish greater smoothing, but at the expense of:

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

Trend refers to a data pattern that repeats itself after a period of days, weeks, months, or quarters.

Positive tracking signals indicate that the forecast is greater than demand.

Seasonal indices adjust raw data for patterns that repeat at regular time intervals.

Regression lines graphically depict "cause-and-effect" relationships.

A forecast based on the previous forecast plus a percentage of the forecast error is a(n) :

Weekly sales of ten-grain bread at the local organic food market are provided in the table below. Based on these data, forecast week 9 using a four-week moving average. Week Sales 1 415 2 389 3 420 4 382 5 410 6 432 7 425 8 421

A six-month moving average forecast is generally better than a three-month moving average forecast if demand:

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

Focus forecasting tries a variety of computer models and selects the best one for a particular application.

Demand for individual products can be driven by product life cycles.

Forecasts are usually classified by time horizon into which three categories?

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