or10sr2022, 00:22 Your Results for: Site Your Rasulls for Mutiple Choice" ‘Multiple Choice" Print this page Introduction to Operations and Supply Chain Summary of Results Management, 3e (International edition) 40% Correct of 15 Scored items: Book Title: Introduction to Operations and Supply Chain Boe EEE Management, 3/e (International Edition) 9 incorrect: TE 60% Book Author: Bozarth Location on Si More information about scori Chapter 9: Forecasting > Online Study Guide > Multiple Choice Date/Time August 31, 2022 at 6:52 PM (UTC/GMT) Submitted: 1. SE Refrigerant R-12 was to be phased out as manufacturers switched systems to the environmentally friendly but more expensive GHG. Refrigeration repairmen consulted their forecasting models and unanimously concluded that they should stockpile R-12 while it was still affordable. These forecasting models could be classified as: Your Answer: price forecasts. CORRECT. 2, QEEEEV which of these is an eternal truth about forecasting? Your Answer: Forecasts are usually accurate. Correct Answer: Forecasts for the near term tend to be more accurate. INCORRECT. The opposite is true. 3. GEE You are asked to create a forecast of demand for your company's most popular product. As you consider the situation, you realize that there is quantitative historical data available. You also suspect that the advertising campaigns in print, radio, and television have had some impact on sales. An appropriate forecasting technique would be: Your Answer: multiple regression. CORRECT. 4, GEEEEEED Your employer is developing a breakthrough product under a veil of secrecy. This product is unlike anything currently available and also different from your employer's existing product line, You have been tasked with developing a forecast. A good choice of technique would be: Your Answer: a weighted moving average. Correct Answer: the life cycle analogy method INCORRECT. You have no data for this new product. 5. GEER structured questionnaires submitted to potential customers, often to gauge potential .oned.co.uklema._je_bozarth_intopscman_9/229/57293/1466726 .cwrindex html 11s‘0108/2022, 00:22 ‘Your Results for "Multiple Choice” demand are: Your Answer: panel consensus forecasts Correct Answer: market surveys. INCORRECT. This technique employs discussion among experts. Use the data to determine what a forecast for period #6 will be using the last period ‘approach, # 'Sales| a7 63 28 69 7 IPeriod| ais |ielin| Your Answer: 71 CORRECT. Which of the following statements about the data plotted below is best? Customers 180 160 | 140 120 | 100 20 + 60 + 40 ‘The scale on the x-axis is days. Your Answer: The data show a trend and randomness, CORRECT. Calculate a moving average of three periods to forecast the demand for period 5, —— hitps:lwps.pearsoned.co.uklema_je_bozarth_intopscman_229/57293/1466726 1.cwrindex html‘0108/2022, 00:22 ‘Your Results for "Multiple Choice” |Period||Demand| 1 69 2 89 3 81 4 OL 5 119 Your Answer: 87 CORRECT. 9, QEEEEEEB alcuate a weighted moving average for period 7 where the current time period's weight is twice the previous time period's weight, which in turn is three time the weight given to the time pertod two periods earlier, [Period|[Demand 1 89 97 123 115 133 142 158 172 |/\] a] a] af ofr Correct Answer: 94.9 INCORRECT. This is the weighted moving average for period 9. 10. EIGER Use exponential smoothing with an alpha = 0.4 to determine a forecast for period 5, ‘Assume that the forecast for period 3 is 85. [Period|[Demand 1 57 85 OL 76 70 65 79 82 |S] a] en] af ola ‘Your Answer: 87.4 Correct Answer: 82.8 hitps:lwps.pearsoned.co.uklema._je_bozarth_intopscman_3!229/57293/1466726 1.cwrindex html 35or10sr2022, 00:22 Your Rasulls for Mutiple Choice" INCORRECT. This is the forecast for period 4. 11. QED The ice cream man notices that he seems to sell more ice cream on days when the temperature is higher. One weekend he studies a few of his favorite regression textbooks and decides to put his theory to the test. For seven consecutive days he drives exactly the same route at the same time of day. He records the dally high temperature and the number of sales in the table shown below. Help him calculate his regression coefficients so he can submit his findings to Duh Magazine. [Temperature] Sales 97 69 92 71 96 74 99. 75 102 76 104 73 105 74 Your Answer: Temperature = 0.26 + 47.7 * Sales Correct Answer: Sales = 47.7 + 0.26 * Temperature INCORRECT. Check your slope and intercept and your dependent and independent variables. 12, ERED The ice cream man’s sister (aka The Hot Dog Lady) runs a hot dog stand. She has long known that the demand for hot dogs is based on the ambient temperature, her distance from the center of town, and whether or not an outdoor concert is being held that day. Her regression equation is: Sales=86 + 75*Temperature -30*Distance + 9*Concert where Sales is the number of hotdogs sold, Temperature is the thermometer reading in degrees Fahrenheit, Distance is the distance from the geographic center of town in feet, and Concert is 1 when a concert is scheduled and 0 when there is no concert scheduled The Hot Dog Lady reads the evening paper and note that tomorrow's forecast is 82 degrees, there is @ concert scheduled, and her turf will be 200 feet from the center of town, How many hot dogs should she load on her cart for tomorrow? Your Answer: 236 Correct Answer: 245 INCORRECT. There is a concert 13. GEESE Which of these can NOT be the first value for a tracking signal? Your Answer: 10 CORRECT. 14, QQEEEEEEED Ed Undecide has four different forecasting approaches that he likes to employ. He has .oned.co.uklema._je_bozarth_intopscman_9/229/57293/1466726 .cwrindex html aisor10sr2022, 00:22 Your Resulls for "Multiple Choice” done just that and has recorded observations for five consecutive days alongside the actual values of his variable of interest. Which approach is the most accurate according to the MAD criterion? Perica]actuat|ethed|Method Method Method 1 25 25 27. 24 26 2 27 29 30 28 EN 3 31 34 36 33 35 4 37 38 39 37 39 5 4547 48 46 49 Your Answer: Method 3 Correct Answer: Method 2 INCORRECT. The MAD for Method 3 is 2.4, but there is an approach with a lower value for MAD. 15. QED collaborative planning, forecasting, and replenishment systems perform many necessary supply chain processes. Which of the following typically does NOT fall under the scope of a CPFR system? ‘Your Answer: Development of joint sales and operations plans, Correct Answer: Development of a layout and process choice. INCORRECT. This typically falls under the scope of a CPFR system, E-mail Your Results My name is (first last) E-mail my results to E-mall address: Send as: O me Text v O instructor Text v Om Text v O other Text v Help, mail Results| Copyright © 1995-2013 Pearson Education. nd Privacy Notice rights reserved. .oned.co.uklema._je_bozarth_intopscman_9/229/57293/1466726 .cwrindex html 5s