7/23/2021 Multiple Choice Quiz

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The correct answer for each question is indicated by a .

1 Which exponential smoothing factor would produce the most smoothing?

INCORRECT
A) 1.0

B) .3

C) .1

D) 0
2 Which one of the following is a qualitative forecasting technique?
INCORRECT
A) associative

B) naive

C) moving average

D) exponential smoothing

E) Delphi
3 Which term is most closely associated with simple exponential smoothing?
INCORRECT
A) seasonal relative

B) moving average

C) trend

D) predictor variable
4 Which is not a typical approach for improving forecasts?
INCORRECT
A) Search for a better technique.

B) Shorten product development time.

C) Shorten lead times.

D) Build flexibility into the system.

5 CORRECT Which would not generally be considered a feature common to all forecasts?

A) Assumption of a stable underlying causal system.

B) Actual results will differ somewhat from predicted values.

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7/23/2021 Multiple Choice Quiz
C) Historical data are available on which to base the forecast.
D) Forecasts for groups of items tend to be more accurate than forecasts for individual items.

E) Accuracy decreases as the time horizon increases.

6 If an analyst wants to make a moving average more responsive to change, the analyst should:
INCORRECT
A) increase the number of data points in the average.

B) decrease the number of data points in the average.

C) increase the value of the smoothing constant.

D) decrease the value of the smoothing constant.

E) add additional explanatory variables.

7 What is the MAD for this set of data? –1 +3 0 –2 +3
INCORRECT
A) 1.0

B) 1.8

C) 2.5

D) 3.0

E) 9.0

8 What is the MSE for this set of data? –1 +3 0 –2 +3

INCORRECT
A) 1.8

B) 3.0

C) 9.0

D) 2.3

E) 5.75
9 Which term is most closely associated with a tracking signal?
INCORRECT
A) MBA

B) MSE

C) MAD

D) MAPE
10 Which of the following would be considered a reason for using a sales force composite forecast?
CORRECT
A) Salespeople often communicate with each other.

B) They are not likely to be affected by recent events.

C) They are very aware of the importance of forecast accuracy.

D) They are often aware of customers' future plans.

E) Better forecasts mean more money for them.

11 The previous period’s forecast was for 100 units, and the actual demand in the previous period was for 110 units. Exponential smoothing, with alpha equal to .4, is
INCORRECT used to forecast demand. What will the forecast for the next period be?
A) 102 units

B) 104 units

C) 106 units

D) 108 units

E) 110 units

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7/23/2021 Multiple Choice Quiz
12 One feature common to good forecasting is that a good forecast’s __________ outweigh(s) its __________.
INCORRECT
A) time horizon; applicability

B) accuracy; variability

C) variability; reliability

D) benefits; costs

E) meaningfulness; accuracy
13 Which of the following is not typically accounted for in time-series forecasting?
INCORRECT
A) trend variation

B) irregular variation

C) seasonal variation

D) cyclical variation

E) random variation
14 Demand for next year is forecasted to be 800 units per quarter. The first quarter seasonal relative is .8, the second quarter seasonal relative is 1.2, and the third
INCORRECT quarter seasonal relative is 1.3. What will be the demand forecast for quarter 4?
A) 650 units

B) 560 units

C) 640 units

D) 1,040 units

E) 960 units
15 In monitoring forecasts, bias is commonly assessed with __________, while nonrandomness is commonly assessed with __________.
INCORRECT
A) MSE; MAD

B) control charts; MAD

C) MAPE; MAD

D) tracking signals; control charts

E) MAD; control charts

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Date: Fri Jul 23 2021 18:14:38 GMT+0530 (India Standard Time)

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