CH. !* QUIZ

Bayesian analysis is the simplest way to choose weights for the weighted moving average forecasting model. (T/F)

False

Market research is a quantitative method of forecasting. (T/F)

False

Which of the following forecasting methodologies is considered a qualitative forecasting technique?

Market research

Which of the following is not considered a component of demand?

Past data

If a firm produced a product that was experiencing growth in demand, the smoothing constant alpha (reaction rate to differences) used in an exponential smoothing forecasting model would tend to be which of the following?

The more rapid the growth, the higher the percentage

A time series is defined in the text as chronologically ordered data that may contain one or more components of demand variation: trend, seasonal, cyclical, autocorrelation, and random.(T/F)

True

In decomposition of time series data, it is considerably more difficult (than trend detection) to identify the cycles, autocorrelation, and random components.(T/F)

True

Which of the following forecasting methodologies is considered a time series forecasting technique?

Weighted moving average