Quiz 3: Chapters 4 and 7
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 of the quadrants in the service process matrix has high labor intensity and high customization?
professional service
What is a data pattern that repeats itself after a period of days, weeks, months, or quarters?
seasonality
Which of the quadrants in the service process matrix has low labor intensity and low customization?
service factory
The forecasting time horizon that would typically be easiest to predict for would be the
short range.
CPFR is
collaborative, planning, forecasting, and replenishment.
A consistent tendency for forecasts to be greater or less than the actual values is called ________ error.
a bias
A forecast that projects a company's sales is
a demand forecast.
Which of the following is a quantitative forecasting method?
exponential smoothing
Which of the following is NOT a time-series model?
linear regression
A fast food restaurant is an example of
low customization and low degree of labor.
Which forecasting model is based upon salespersons' estimates of expected sales?
sales force composite
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 a 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 the FINAL step in a forecasting system?
Validate and implement the results.
When using exponential smoothing, the smoothing constant
can be determined using MAD.
A measure of the strength of the relationship between two variables is referred to as the
coefficient of correlation.
The goal of CPFR is to
create significantly more accurate information that can power the supply chain.
A forecast that addresses the business cycle by predicting planning indicators is
an economic forecast.
