QDM Chapter 4 Questions

What is the FIRST step in a forecasting system?

What is the FINAL step in the forecasting system?

What is the forecast step that come directly after time horizon of the forecast?

Which of the following is a quantitative forecasting model? A. Exponential Smoothing B. Jury of Executive Opinion C. Market Survey D. Sales Force Composite

Which of the following is a qualitative forecasting method? A. Delphi Method B. Naive Approach C. Trend Projection D. Linear Regression

What is a data pattern that repeats itself after a period of days, weeks, months, or quarters? A. Cycle B. Random Variation C. Seasonality D. Trend

"Today's forecast equals yesterday's actual demand" is referred as: A. Exponential Smoothing B. The Naive Approach C. A Moving Average D. The Delphi Method

A tracking signal A. cannot be used with exponential smoothing. B. that is negative indicates that demand is greater than the forecast. C. is a measurement of how well a forecast is predicting actual values.

A forecasting technique consistently produces a negative tracking signal. This means that A. the forecasting technique consistently under-predicts. B. the forecasting technique consistently over-predicts.

A consistent tendency for forecast is to be greater or less than the actual values is called _____ error.