Question 1

Which of the following corresponds to the predictor variable in simple linear regression?

Accepted Answer

A)  regression coefficient
B)  dependent variable
C)  independent variable
D)  predicted variable
E)  demand coefficientF) A) and E)
G) D) and E)

Question 2

An advantage of a weighted moving average is that recent actual results can be given more importance than what occurred a while ago.

Accepted Answer

A) True 
 B)False

Question 3

Use of simple linear regression analysis assumes that:

Accepted Answer

A)  Variations around the line are random.
B)  Deviations around the line are normally distributed.
C)  Predictions are to be made only within the range of observed values of the predictor variable.
D)  all of the above
E)  none of the aboveF) A) and D)
G) A) and C)

Question 4

The forecasting method which uses anonymous questionnaires to achieve a consensus forecast is:

Accepted Answer

A)  sales force opinions
B)  consumer surveys
C)  the Delphi method
D)  time series analysis
E)  executive opinionsF) A) and D)
G) A) and E)

Question 5

What is the spring's seasonal relative?

Accepted Answer

(Spring 0.91) (Summe...

Question 6

Which term most closely relates to associative forecasting techniques?

Accepted Answer

A)  time series data
B)  expert opinions
C)  Delphi technique
D)  consumer survey
E)  predictor variablesF) B) and D)
G) None of the above

Question 7

A consumer survey is an easy and sure way to obtain accurate input from future customers since most people enjoy participating in surveys.

Accepted Answer

A) True 
 B)False  False

Question 8

What is this month's forecast using a four-month weighted moving average with weights of .4, .3, .2, and .1?

Accepted Answer

A)  120
B)  129
C)  141
D)  135
E)  140F) All of the above
G) C) and D)

Question 9

Given the following data, develop a linear regression model for y as a function of x.

Accepted Answer

The answer of Given the following data, develop a linear...

Question 10

Over the past five years, a firm's sales have averaged 250 units in the first quarter of each year, 100 units in the second quarter, 150 units in the third quarter, and 300 units in the fourth quarter.What are appropriate quarter relatives for this firm's sales? Hint: Only minimal computations are necessary.

Accepted Answer

The answer of Over the past five years, a firm's...

Question 11

The best forecast is not necessarily the most accurate.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A)  reactive
B)  proactive
C)  influential
D)  protracted
E)  retroactiveF) A) and E)
G) B) and D)

Question 13

Which of the following would be an advantage of using a sales force composite to develop a demand forecast?

Accepted Answer

A)  The sales staff is least affected by changing customer needs.
B)  The sales force can easily distinguish between customer desires and probable actions.
C)  The sales staff is often aware of customers' future plans.
D)  Salespeople are least likely to be influenced by recent events.
E)  Salespeople are least likely to be biased by sales quotas.F) A) and B)
G) A) and C)

Question 14

What is this week's forecast using the naive approach?

Accepted Answer

A)  45
B)  50
C)  52
D)  65
E)  78F) C) and D)
G) A) and E) B

Question 15

What are this and next year's forecasts using the least squares trend line for these data?

Accepted Answer

The answer of What are this and next year's forecasts...

Question 16

What is the forecast for this year using exponential smoothing with alpha = .4, if the forecast for two years ago was 750?

Accepted Answer

A)  163
B)  180
C)  300
D)  420
E)  510F) B) and D)
G) B) and C)

Question 17

What is this year's forecast using a two-year weighted moving average with weights of .7 and .3?

Accepted Answer

A)  19,400
B)  18,600
C)  19,000
D)  11,400
E)  10,600F) B) and C)
G) None of the above A

Question 18

What is the monthly rate of change (slope)  of the least squares trend line for these data?

Accepted Answer

A)  320
B)  102
C)  8
D)  -0.4
E)  -8F) B) and C)
G) A) and D)

Question 19

In exponential smoothing, an alpha of .30 will cause a forecast to react more quickly to a large error than will an alpha of .20.

Accepted Answer

A) True 
 B)False

Question 20

Given forecast errors of 5, 0, - 4, and 3, what is the bias?

Accepted Answer

A)  - 4
B)  4
C)  5
D)  12
E)  6F) A) and B)
G) C) and E)

Exam 3: Forecasting

Which of the following corresponds to the predictor variable in simple linear regression?

Correct Answer
verified

An advantage of a weighted moving average is that recent actual results can be given more importance than what occurred a while ago.

Correct Answer
verified

Use of simple linear regression analysis assumes that:

Correct Answer
verified

The forecasting method which uses anonymous questionnaires to achieve a consensus forecast is:

Correct Answer
verified

What is the spring's seasonal relative?

Correct Answer
verified
(Spring 0.91) (Summe...
View Answer

Which term most closely relates to associative forecasting techniques?

Correct Answer
verified

A consumer survey is an easy and sure way to obtain accurate input from future customers since most people enjoy participating in surveys.

Correct Answer
verified
False

What is this month's forecast using a four-month weighted moving average with weights of .4, .3, .2, and .1?

Correct Answer
verified

Given the following data, develop a linear regression model for y as a function of x.

Correct Answer
verified

Correct Answer
verified

The best forecast is not necessarily the most accurate.

Correct Answer
verified

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

Correct Answer
verified

Which of the following would be an advantage of using a sales force composite to develop a demand forecast?

Correct Answer
verified

What is this week's forecast using the naive approach?

Correct Answer
verified
B

What are this and next year's forecasts using the least squares trend line for these data?

Correct Answer
verified

What is the forecast for this year using exponential smoothing with alpha = .4, if the forecast for two years ago was 750?

Correct Answer
verified

What is this year's forecast using a two-year weighted moving average with weights of .7 and .3?

Correct Answer
verified
A

What is the monthly rate of change (slope) of the least squares trend line for these data?

Correct Answer
verified

In exponential smoothing, an alpha of .30 will cause a forecast to react more quickly to a large error than will an alpha of .20.

Correct Answer
verified

Given forecast errors of 5, 0, - 4, and 3, what is the bias?

Correct Answer
verified

Exam 3: Forecasting

Which of the following corresponds to the predictor variable in simple linear regression?

Correct AnswerverifiedShow Answer

An advantage of a weighted moving average is that recent actual results can be given more importance than what occurred a while ago.

Correct AnswerverifiedShow Answer

Use of simple linear regression analysis assumes that:

Correct AnswerverifiedShow Answer

The forecasting method which uses anonymous questionnaires to achieve a consensus forecast is:

Correct AnswerverifiedShow Answer

What is the spring's seasonal relative?

Correct Answerverified(Spring 0.91) (Summe...View AnswerShow Answer

Which term most closely relates to associative forecasting techniques?

Correct AnswerverifiedShow Answer

A consumer survey is an easy and sure way to obtain accurate input from future customers since most people enjoy participating in surveys.

Correct AnswerverifiedFalse

What is this month's forecast using a four-month weighted moving average with weights of .4, .3, .2, and .1?

Correct AnswerverifiedShow Answer

Given the following data, develop a linear regression model for y as a function of x.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The best forecast is not necessarily the most accurate.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following would be an advantage of using a sales force composite to develop a demand forecast?

Correct AnswerverifiedShow Answer

What is this week's forecast using the naive approach?

Correct AnswerverifiedB

What are this and next year's forecasts using the least squares trend line for these data?

Correct AnswerverifiedShow Answer

What is the forecast for this year using exponential smoothing with alpha = .4, if the forecast for two years ago was 750?

Correct AnswerverifiedShow Answer

What is this year's forecast using a two-year weighted moving average with weights of .7 and .3?

Correct AnswerverifiedA

What is the monthly rate of change (slope) of the least squares trend line for these data?

Correct AnswerverifiedShow Answer

In exponential smoothing, an alpha of .30 will cause a forecast to react more quickly to a large error than will an alpha of .20.

Correct AnswerverifiedShow Answer

Given forecast errors of 5, 0, - 4, and 3, what is the bias?

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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(Spring 0.91) (Summe...
View Answer

Correct Answer
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False

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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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B

Correct Answer
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A

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Correct Answer
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