Which statement is NOT true regarding forecasting? |
Forecasting is exclusively an objective prediction |

A forecast that addresses the business cycle by predicting planning indicators is: |
an economic forecast |

CPFR is: |
collaborative, planning, forecasting, and replenishment |

The goal is CPFR is to: |
create significantly more accurate info that can power the supply chain |

Which statement is NOT true? |
When excess capacity exists, cost can decrease |

Which is the FIRST step in a forecasting system? |
determine the use of the forecast |

Which is the FINAL step in a forecasting system? |
Validate and implement the results |

Which is a reality each company faces regarding its forecasting system? |
outside factors that we cannot predict or control often impact the forecast |

Which forecasting steps comes directly after determining the time horizon of the forecast? |
Select the forecasting model(s) |

Which is a quantitative forecasting method? |
exponential smoothing |

Which forecasting model is based upon salespersons’ estimates of expected sales? |
sales force composite |

Which is NOT a time-series model? |
linear regression |

Forecasting that tries a variety of computer models and selects the best one for a particular application is referred as: |
focus forecasting |

Seasonality |
is the data pattern that repeats itself after a period |

A forecasting technique consistently produces a negative tracking signal. This means that |
the forecasting technique consistently over-predicts |

Which forecast error measure is probably the easiest to interpret? |
MAPE |

A data pattern that repeats itself after a period of days, weeks, months, or quarters |
seasonality |

A consistent tendency for forecasts to be greater or less than the actual values is called |
a bias error |

Linear regression is most similar to |
the trend projection method of forecasting |

A measure of strength of the relationship between two variables is referred to as the |
coefficient of correlation |

When using exponential smoothing, the smoothing constant |
can be determined using MAD |

With regard to a regression-based forecast, the standard error of the estimate gives a measure of |
the variability around the regression line |

A tracking signal |
is a measurement of how well a forecast is predicting actual values |

The forecasting time horizon that would typically be easiest to predict for would be the |
short range |

Which forecasting method considers several variables that are related to the variable being predicted? |
multiple regression |

A forecast that projects a company’s sales is |
a demand forecast |

Which is a qualitative forecasting method |
Delphi method |

"Today’s forecast equals yesterday’s actual demand" is referred as |
the naive approach |

# Ch 4 OM

### Share This

## Unfinished tasks keep piling up?

Let us complete them for you. Quickly and professionally.

Check Price