Forecasting

A forecast that projects a​ company's sales is a) an environmental forecast b) an economic forecast c) a demand forecast d) a technological forecast

The forecasting time horizon that would typically be easiest to predict for would be the a) medium range b) long range c) short range d) intermediate range

Which of the following statements is NOT true regarding​ forecasting? a) Forecasting may involve taking historical data and projecting them into the future with a mathematical model. b) Forecasting is the art and science of predicting future events c) Forecasting is exclusively an objective prediction. d) A forecast is usually classified by the future time horizon that it covers.

A forecast that addresses the business cycle by predicting planning indicators is a) an economic forecast b) a demand forecast c) a technological forecast d) an environmental forecast

Which of the following statements is NOT true? a) When capacity is​ inadequate, customers can be lost. b) When capacity is​ inadequate, market share can shrink. c) When excess capacity​ exists, cost can increase. d) When excess capacity​ exists, cost can decrease.

CPFR is

The goal of CPFR is to a) ensure product innovation b) determine which model needs to be used to predict future events c) create significantly more accurate information that can power the supply chain d) create good relations with suppliers

Which of the following is a reality each company faces regarding its forecasting​ system? a) After automating their predictions using computerized forecasting​ software, firms closely monitor only the product items whose demand is stable. b) Most forecasting techniques assume there is no underlying stability in the system c) Product family forecasts are less accurate than individual product forecasts d) Outside factors that we cannot predict or control often impact the forecast.

Which of the following is the FIRST step in a forecasting​ system? a) Determine the time horizon of the forecast b) select the items to be forecasted c) select the forecast models d) Determine the use of the forecast

Which of the following is the FIRST step in a forecasting​ system? a) make the forecast b) Gather the data c) Select the items to be forecasted d) select the forecasting models

Which of the following is the FINAL step in a forecasting​ system? a) Select the forecast models b) Make the forecast c) Validate and implement the results d) Gather the data needed to make the forecast

Which forecasting model is based upon​ salespersons' estimates of expected​ sales? a) Jury of executive opinion b) market survey c) Delphi Method d) sales force composite

Which of the following is a quantitative forecasting​ method? a) jury of executive opinion b) exponential smoothing c) sales force composite d) market survey

Which of the following is NOT a​ time-series model? a) naive approach b) multiple regression c) exponential smoothing d) moving averages

Which of the following is a qualitative forecasting​ method? a) Delphi method b) linear regression c) trend projection d) naive approach

Forecasting that tries a variety of computer models and selects the best one for a particular application is referred as a) trend projection b) jury of executive opinion c) adaptive smoothing d) focus forecasting

A tracking signal

A forecasting technique consistently produces a negative tracking signal. This means that a) the forecasting technique consistently​ under-predicts. b) the MAPE will also consistently be negative. c) the forecasting technique consistently​ over-predicts. d) the MSE will also consistently be negative.

Which one of the following statements is NOT true about the forecasting in the service​ sector? a) Hourly demand forecasts may be necessary. b) Forecasting in the service sector presents some unusual challenges. c) Detailed forecasts of demand are not needed d) Demand patterns are often different from those in​ non-service sectors.