Ch.4

Which of the following is a qualitative forecasting method?

Delphi method

Which one of the following statements is NOT true about the forecasting in the service sector?

Detailed forecasts of demand are not needed

Which of the following is the FIRST step in the forecasting system?

Determine the use of the forecast

Which of the following statements is NOT true regarding forecasting?

Forecasting is exclusively an objective prediction

Which of the following is NOT a time series model?

Multiple Regression

Which of the following is a reality each company faces regarding its forecasting system?

Outside factors that we cannot predict or control often impact the forecast

Which of the following forecasting steps comes directly after determining the time horizon of the forecast?

Select the forecasting models

Which of the following is the FINAL step in a forecasting system?

Validate and implement the results

Which of the following statements is NOT true?

When excess capacity exists, cost can decrease

A forecast that projects a company's sales is

a demand forecast

CPFR is

collaborative, planning, forecasting, and replenishment

The goal of CPFR is to

create significantly more accurate information that can power the supply chain

Which of the following is a quantitative forecasting method?

exponential smoothing

Forecasting that tries a variety of computer models and selects the best one for a particular application is referred as

focus forecasting

A tracking signal

is a measurement of how well a forecast is predicting actual values

Which forecasting method considers several variables that are related to the variable being predicted?

multiple regression

Which forecasting model is based upon salespersons' estimates of expected sales?

sales force composite

What is a data pattern that repeats itself after a period of days, weeks, months, or quarters?

seasonality

Which of the following forecasting steps comes directly after determining the time horizon of the forecast?

select the forecasting models

The forecasting time horizon that would typically be easiest to predict for would be the

short range

A forecasting technique consistently produces a negative tracking signal. This means that

the forecasting technique consistently over predicts