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ISQS 3344 final exam Questions and Answers with Verified Solutions
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ISQS 3344 final exam Questions and Answers with Verified Solutions
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ISQS 3344 final exam Questions and Answers withVerified Solutions
Forecast methods based on judgement, opinion, past experiences, or best guesses
are known ____ methods - ANSWER quantitative
Forecasts of product demand determine how much _____.
a. inventory is needed
b. product to make
c. material to purchase
d. all of these answer choices are correct - ANSWER d. all of these answer
choices are correct
The ______ effect is caused in part by distortion in product demand information
caused by inaccurate forecasts.
a. bullwhip
b. regression
c. error
d. none of these answer choices in correct - ANSWER a. bullwhip
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 - ANSWER c. determine production
schedules
,A forecast where the current period's demand is used as the next period's forecast
is known as a ______ - ANSWER naive forecast
Which of the following is not a type of predictable demand behavior?
a. trend
b. random variation
c. cycle
d. seasonal pattern - ANSWER b. random variation
A _______ is an up-and-down movement in demand that repeats itself over a
period of more than a year. - ANSWER cycle
A qualitative procedure used to develop a consensus forecast is known as -
ANSWER the Delphi technique
The sum of the weights in a weighted moving average forecast must _____ -
ANSWER equal 1.00
An exponential smoothing forecasting technique requires all of the following
except ____.
a. the forecast for the current period
b. the actual demand for the current period
c. a smoothing constant
d. large amounts of historical demand data - ANSWER d. large amounts of
historical demand data
, The smoothing constant, x, in the exponential smoothing forecast ______.
a. must always be a value greater than 1.0
b. must always be a value less than 0.10
c. must be value between 0.0 and 1.0
d. should be equal to the time frame for the forecast - ANSWER c. must be
value between 0.0 and 1.0
The closer the smoothing constant, x, is to 1.0 the ____.
a. greater the reaction to the most recent demand
b. greater the dampening, or smoothing effect
c. more accurate the forecast
d. less accurate the forecast - ANSWER a. greater the reaction to the most
recent demand
The exponential smoothing model produces a naive forecast when the smoothing
constant, x, is equal to ___ - ANSWER 1.00
The mean absolute percentage deviation (MAPD) measures the absolute error as
a percentage of _____ - ANSWER total demand
A large positive cumulative error indicates that the forecast is probably _____ -
ANSWER lower than the actual demand
Which of the following statements concerning average error is true?
a. a positive value indicates high bias, and a negative value indicates low bias
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