mktg 372 alidaee -- chapter 18

If a firm produced a standard item with relatively stable demand, the smoothing constant alpha (reaction rate to differences) used in an exponential smoothing forecasting model would tend to be in which of the following ranges?

5 to 10 percent

The exponential smoothing method requires which of the following data to forecast the future?

A

In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand?

Autocorrelation

In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand?

Cyclical elements

Which of the following is a possible source of bias error in forecasting?

Failing to include the right variables

Which of the following is not one of the basic types of forecasting?

Force field analysis

In business forecasting, what is usually considered a short-term time period?

Less than three months

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

Linear regression

In general, which forecasting time frame is best to detect general trends?

Long-range forecasts

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

Market research

Which of the following is used to describe the degree of error?

Mean absolute deviation

In general, which forecasting time frame best identifies seasonal effects?

Medium-term forecasts

Which of the following forecasting methods uses executive judgment as its primary component for forecasting?

Panel consensus

In most cases, demand for products or services can be broken down into several components. Which of the following is not considered a component of demand?

Past data

Which of the following considerations is not a factor in deciding which forecasting model a firm should choose?

Product

In general, which forecasting time frame compensates most effectively for random variation and short-term changes?

Short-term forecasts

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

Simple moving average

Which of the following forecasting methods is very dependent on selection of the right individuals who will judgmentally be used to actually generate the forecast?

Simple moving average

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

In business forecasting, what is usually considered a medium-term time period?

Three months to two years

In business forecasting, what is usually considered a long-term time period?

Two years or longer

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

Weighted moving average

Which of the following forecasting methods can be used for short-term forecasting?

simple exponential smoothing