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