Question 1

A smoothing constant of 0.1 will cause an exponential smoothing forecast to react more quickly to a sudden change than a value of 0.3 will.

Accepted Answer

A) True 
 B)False

Question 2

Using the latest value in a sequence of data to forecast the next period is:

Accepted Answer

A)  a moving-average forecast.
B)  a last-value forecast.
C)  an exponentially smoothed forecast.
D)  a causal forecast.
E)  None of the above.F) A) and E)
G) B) and E)

Question 3

Given forecast errors of 4,8,and -3,what is the mean absolute deviation?

Accepted Answer

A)  3.
B)  4.
C)  5.
D)  6.
E)  9.F) C) and D)
G) A) and E)

Question 4

In exponential smoothing,an $\alpha$ of 0.3 will cause a forecast to react more quickly to a large error than will an $\alpha$ of 0.2.

Accepted Answer

A) True 
 B)False

Question 5

The Delphi method involves the use of a series of questionnaires to achieve a consensus forecast.

Accepted Answer

A) True 
 B)False

Question 6

Figure 
-What is the last-value forecast for the next period?

Accepted Answer

A)  58.
B)  62.
C)  60.
D)  61.
E)  None of the above.F) A) and B)
G) B) and C)

Question 7

Given forecast errors of 5,0,-4,and 3,what is the mean absolute deviation?

Accepted Answer

A)  1.
B)  2.
C)  2.5.
D)  3.
E)  12.F) A) and B)
G) A) and C)

Question 8

If a time-series has exactly the same distribution for each and every time period,then the averaging forecasting method provides the best estimate of the mean.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

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

Question 10

Figure
An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: 
-What is the forecast for this year using exponential smoothing with  α\alphaα  = 0.2,if the forecast for last year was 15,000?

Accepted Answer

A)  20,000.
B)  19,000.
C)  17,500.
D)  16,000.
E)  15,000. F) D) and E)
G) C) and D)

Question 11

An advantage of the exponential smoothing forecasting method is that more recent experience is given more weight than less recent experience.

Accepted Answer

A) True 
 B)False

Question 12

Figure
The president of State University wants to forecast student enrollment for this academic year based on the following historical data: 
-What is the forecast for this year using exponential smoothing with trend if \9\alpha\)  = 0.5 and  α\alphaα  = 0.3? Assume the forecast for last year was 21,000 and the forecast for two years ago was 19,000,and that the trend estimate for last years forecast was 1,500.

Accepted Answer

A)  18,750.
B)  19,500.
C)  21,000.
D)  22,650.
E)  22,800. F) A) and D)
G) B) and D)

Question 13

Given forecast errors of 5,0,-4,and 3,what is the mean square error?

Accepted Answer

A)  3.
B)  4.
C)  12.
D)  12.5.
E)  50.F) A) and B)
G) None of the above

Question 14

The moving-average forecasting method assigns equal weights to each value that is represented by the average.

Accepted Answer

A) True 
 B)False

Question 15

In exponential smoothing with trend,the forecast consists of:

Accepted Answer

A)  an exponentially smoothed forecast and a smoothed trend factor.
B)  the old forecast adjusted by a trend factor.
C)  the old forecast and a smoothed trend factor.
D)  a moving-average and a trend factor.
E)  None of the above.F) C) and D)
G) B) and C)

Question 16

Which of the following is not a type of judgmental forecasting?

Accepted Answer

A)  Managerial opinion.
B)  Sales force composite.
C)  Time-series analysis.
D)  The Delphi method.
E)  Consumer market survey.F) A) and C)
G) A) and B)

Exam 11: Forecasting

Correct Answer
verified

Given forecast errors of 5,0,-4,and 3,what is the mean absolute deviation?

Correct Answer
verified

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

Correct Answer
verified

An advantage of the exponential smoothing forecasting method is that more recent experience is given more weight than less recent experience.

Correct Answer
verified

Using the latest value in a sequence of data to forecast the next period is:

Correct Answer
verified

A smoothing constant of 0.1 will cause an exponential smoothing forecast to react more quickly to a sudden change than a value of 0.3 will.

Correct Answer
verified

In exponential smoothing,an $\alpha$ of 0.3 will cause a forecast to react more quickly to a large error than will an $\alpha$ of 0.2.

Correct Answer
verified

Figure -What is the last-value forecast for the next period?

Correct Answer
verified

Which of the following is not a type of judgmental forecasting?

Correct Answer
verified

The moving-average forecasting method assigns equal weights to each value that is represented by the average.

Correct Answer
verified

Given forecast errors of 5,0,-4,and 3,what is the mean square error?

Correct Answer
verified

Correct Answer
verified

If a time-series has exactly the same distribution for each and every time period,then the averaging forecasting method provides the best estimate of the mean.

Correct Answer
verified

The Delphi method involves the use of a series of questionnaires to achieve a consensus forecast.

Correct Answer
verified

Given forecast errors of 4,8,and -3,what is the mean absolute deviation?

Correct Answer
verified

In exponential smoothing with trend,the forecast consists of:

Correct Answer
verified

Exam 11: Forecasting

Correct AnswerverifiedShow Answer

Given forecast errors of 5,0,-4,and 3,what is the mean absolute deviation?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

An advantage of the exponential smoothing forecasting method is that more recent experience is given more weight than less recent experience.

Correct AnswerverifiedShow Answer

Using the latest value in a sequence of data to forecast the next period is:

Correct AnswerverifiedShow Answer

A smoothing constant of 0.1 will cause an exponential smoothing forecast to react more quickly to a sudden change than a value of 0.3 will.

Correct AnswerverifiedShow Answer

In exponential smoothing,an α\alphaα of 0.3 will cause a forecast to react more quickly to a large error than will an α\alphaα of 0.2.

Correct AnswerverifiedShow Answer

Figure -What is the last-value forecast for the next period?

Correct AnswerverifiedShow Answer

Which of the following is not a type of judgmental forecasting?

Correct AnswerverifiedShow Answer

The moving-average forecasting method assigns equal weights to each value that is represented by the average.

Correct AnswerverifiedShow Answer

Given forecast errors of 5,0,-4,and 3,what is the mean square error?

Correct AnswerverifiedShow Answer

Figure An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: -What is the forecast for this year using exponential smoothing with α\alphaα = 0.2,if the forecast for last year was 15,000?

Correct AnswerverifiedShow Answer

If a time-series has exactly the same distribution for each and every time period,then the averaging forecasting method provides the best estimate of the mean.

Correct AnswerverifiedShow Answer

The Delphi method involves the use of a series of questionnaires to achieve a consensus forecast.

Correct AnswerverifiedShow Answer

Given forecast errors of 4,8,and -3,what is the mean absolute deviation?

Correct AnswerverifiedShow Answer

In exponential smoothing with trend,the forecast consists of:

Correct AnswerverifiedShow Answer

Correct Answer
verified

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
verified

In exponential smoothing,an $\alpha$ of 0.3 will cause a forecast to react more quickly to a large error than will an $\alpha$ of 0.2.

Correct Answer
verified

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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Correct Answer
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Correct Answer
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Correct Answer
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