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Exam 3: Demand Forecasting

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Question 51

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A managerial approach toward forecasting which seeks to actively influence demand is:

A) reactive.
B) proactive.
C) reflexive.
D) protracted.
E) retroactive.

F) A) and E)
G) C) and E)

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Question 52

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Which of the following smoothing constants would make an exponential smoothing forecast equivalent to a naive forecast?

A) 0
B) .01
C) 1
D) 5
E) 1.0

F) A) and B)
G) B) and E)

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Question 53

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A proactive approach to forecasting views forecasts as probable descriptions of future demand,assuming actions can be taken to meet that demand.

Which of the following is not a characteristic of Naive forecasting methods

A seasonal relative (or seasonal indexes)is expressed as a percentage of the average or trend in a time series.

Given the following historical data and weights of .5 for the most recent period,.3 for the next most recent,and .2 for the next after that,what is the weighted three-period moving average forecast for period 5? 11eab92b_c4aa_791d_99e6_99583bf8c7ce

A moving average forecast tends to be more responsive to changes in the data series when more data points are included in the average.

As compared to a simple moving average,the weighted moving average is:

The owner of Leisure Boutique in a local mall is forecasting this month's (October's) demand for one of her best-selling products based on the following historical data: What is this month's forecast using exponential smoothing with alpha = .2,if August's forecast was 145?

A manager has been using a certain technique to forecast demand for units of web publishing software for the past six periods.Actual and predicted amounts are shown below.Would a naive forecast have produced better results? 11eab92b_c4ae_22d5_99e6_af0520288f16

The naive approach to forecasting requires a linear trend line.

The square root of MSE is used to estimate the sample standard deviation of forecast errors.

Forecasting techniques generally assume that the same causal system that existed in the past will continue to exist in the future.

When all the forecast errors plotted on a control chart are either all positive,or all negative,this shows that the forecasting technique is performing adequately.

An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: What is this year's forecast using the least squares trend line for these data?

Which of the following is used for constructing a control chart?

One weakness of the Delphi method is that there is a high risk that one person's opinion will prevail.

Develop a forecast for the next period,given the data below,using a 3-period moving average. 11eab92b_c4ad_114e_99e6_d9bdbe1fd716

Which term most closely describes what associative forecasting techniques are based on?

11eab92b_c4ae_49e9_99e6_f704d26bec54 What is this year's forecast using exponential smoothing with alpha = .25,if last year's smoothed forecast was 45?