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Exam 17: Forecasting

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Question 1

True/False

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Because of advances in technology,many service industries no longer require accurate forecasts to provide high quality service.

A) True
B) False

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Question 2

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A long-range forecast would normally not be used to

A) design the supply chain.
B) implement strategic programs.
C) determine production schedules.
D) plan new products for changing markets.

E) A) and B)
F) A) and C)

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Question 3

Multiple Choice

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Given the demand and forecast values shown in the table below, the exponential smoothing forecast for November using α = 0.35 is

Correlation in linear regression is a measure of the strength of the relationship between the dependent variable,demand,and an independent (explanatory)variable.

Given the following demand data for the past five months,the four-period moving average forecast for June is

The type of forecasting method selected depends on time frame,demand behavior,and causes of behavior.

A gradual,long-term up or down movement of demand over time is referred to as a trend.

A mathematical technique for forecasting that relates the dependent variable to an independent variable is

The most common type of forecasting method for long-term strategic planning is based on quantitative modeling

Given the demand and forecast values shown in the table below, the forecast error for September is

In ___________________ replenishment,the supplier and customer care continuously update data.

Compare and contrast short-mid-range forecasts and long-range forecasts.

An exponential smoothing forecasting technique requires all of the following except

Time series methods use historical data to predict future demand.

One way to deal with the bullwhip effect is to develop and share the forecasts with other supply chain members.

The moving average method is used for creating forecasts when there is no variation in demand.

A forecasting model has produced the following forecasts: The mean absolute deviation (MAD) for the end of May is

(Use the following information for the next five problems. ) The owner of Koffi,the sole coffee house located in a resort area,wants to develop a forecast based on the relationship between tourism and coffee drinks sold.He has generated the following data over the past 12 months: The data from using Data Analysis on Excel is as follows: -What is the approximate intercept,a?

The type of forecasting method used depends entirely on whether the supply chain is continuous replenishment or not.

For the demand values and the January forecast shown in the table below the exponential smoothing forecast for March using α = 0.30 is