scm quiz2

Which of the following is a qualitative forecasting​ method? A. Delphi method B. linear regression C. trend projection D. naive approach

A. Delphi method

Which of the following is the FINAL step in a forecasting​ system? A. Validate and implement the results. B. Select the forecast​ model(s). C. Make the forecast. D. Gather the data needed to make the forecast.

A. Validate and implement the results.

A tracking signal A. is a measurement of how well a forecast is predicting actual values. B. that is negative indicates that demand is greater than the forecast. C. cannot be used with exponential smoothing. D. is computed as the mean absolute deviation​ (MAD) divided by the running sum of the forecast errors​ (RSFE).

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

Which of the following is NOT a​ time-series model? A. linear regression B. moving averages C. exponential smoothing D. naive approach

A. linear regression

A forecast that projects a​ company's sales is A. an economic forecast. B. a demand forecast. C. an environmental forecast. D. a technological forecast

B. a demand forecast.

Forecasting that tries a variety of computer models and selects the best one for a particular application is referred as A. adaptive smoothing. B. focus forecasting. C. trend projection. D. jury of executive opinion.

B. focus forecasting.

The forecasting time horizon that would typically be easiest to predict for would be the A. long range. B. short range. C. intermediate range. D. medium range.

B. short range.

Which one of the following statements is NOT true about the forecasting in the service​ sector? A. Hourly demand forecasts may be necessary. B. Forecasting in the service sector presents some unusual challenges. C. Detailed forecasts of demand are not needed. D. Demand patterns are often different from those in​ non-service sectors.

C. Detailed forecasts of demand are not needed.

Which of the following statements is NOT true regarding​ forecasting? A. A forecast is usually classified by the future time horizon that it covers. B. Forecasting may involve taking historical data and projecting them into the future with a mathematical model. C. Forecasting is exclusively an objective prediction. D. Forecasting is the art and science of predicting future events.

C. Forecasting is exclusively an objective prediction.

A forecast that addresses the business cycle by predicting planning indicators is A. an environmental forecast. B. a technological forecast. C. an economic forecast. D. a demand forecast.

C. an economic forecast.

The goal of CPFR is to A. determine which model needs to be used to predict future events. B. create good relations with suppliers. C. create significantly more accurate information that can power the supply chain. D. ensure product innovation.

C. create significantly more accurate information that can power the supply chain.

Which of the following is a quantitative forecasting​ method? A. sales force composite B. market survey C. exponential smoothing D. jury of executive opinion

C. exponential smoothing

Which forecasting model is based upon​ salespersons' estimates of expected​ sales? A. jury of executive opinion B. market survey C. sales force composite D. Delphi method

C. sales force composite

Which of the following is the FIRST step in a forecasting​ system? A. Select the items to be forecasted. B. Select the forecast​ model(s). C. Determine the time horizon of the forecast. D. Determine the use of the forecast.

D. Determine the use of the forecast.

Which of the following is a reality each company faces regarding its forecasting​ system? A. Most forecasting techniques assume there is no underlying stability in the system. B. After automating their predictions using computerized forecasting​ software, firms closely monitor only the product items whose demand is stable. C. Product family forecast are less accurate than individual product forecasts. D. Outside factors that we cannot predict or control often impact the forecast.

D. 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? A. Gather the data. B. Select the items to be forecasted. C. Make the forecast. D. Select the forecasting​ model(s).

D. Select the forecasting​ model(s).

Which of the following statements is NOT​ true? A. When capacity is​ inadequate, customers can be lost. B. When capacity is​ inadequate, market share can shrink. C. When excess capacity​ exists, cost can increase. D. When excess capacity​ exists, cost can decrease.

D. When excess capacity​ exists, cost can decrease.

A forecasting technique consistently produces a negative tracking signal. This means that A. the MAPE will also consistently be negative. B. the forecasting technique consistently​ under-predicts. C. the MSE will also consistently be negative. D. the forecasting technique consistently​ over-predicts.

D. the forecasting technique consistently​ over-predicts.

CPFR is A. ​collaborative, partner,​ forecasting, and replenishment. B. ​complete, planning,​ forecasting, and replenishment. C. ​complete, partner,​ forecasting, and replenishment. D. ​collaborative, planning,​ forecasting, and replenishment.

D. ​collaborative, planning,​ forecasting, and replenishment.