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.