MSIS 3223 Exam #2| 80 Questions and
Answers 100% Correct
True - ANSWER-Correlation measures the strength and direction of a relationship
between variables
True - ANSWER-The Delphi approach involves the use of a series of questionnaires to
achieve a consensus forecast
True - ANSWER-In order to update a moving average forecast, the value of each data
point in the average must be known
False - ANSWER-Forecasts based on time-series (historical) data are referred to as
associative forecasts
True - ANSWER-The best forecast is not necessarily the most accurate
False - ANSWER-MAD is equal to the square root of MSE, which is why we calculate
the easier MSE and then calculate the more difficult MAD
True - ANSWER-Organizations that are capable of responding quickly to changing
requirements can use a shorter forecast horizon and therefore benefit from more
accurate forecasts
True - ANSWER-An advantage of trend-adjusted exponential smoothing over the linear
trend equation is its ability to adjust over time to changes in the trend
True - ANSWER-Trend-adjusted exponential smoothing requires selection of two
smoothing constants
True - ANSWER-An advantage of a weighted moving average is that recent actual
results can be given more importance than what occurred a while ago.
Time series analysis - ANSWER-Which of the following is not a type of judgmental
forecasting?
Members of the sales force can have difficulty distinguishing between what customers
would like to do and what they actually will do. - ANSWER-Which of the following is a
potential shortcoming of using sales force opinions in demand forecasting?
Demand forecasts - ANSWER-Which of the following is/are a primary input into
capacity, sales, and production planning?
, False - ANSWER-The term failure as applied to reliability means that a part or item
does not function at all.
True - ANSWER-Applied research has the objective of achieving commercial
applications for new ideas.
False - ANSWER-The process of dismantling and inspecting a competitor's product to
discover product improvement is called benchmarking.
Smooth variations in the data - ANSWER-Moving average forecasting techniques do
the following:
MAPE - ANSWER-Putting forecast errors into perspective is best done using
Second opinions - ANSWER-Forecasts based on judgment and opinion do not include:
True - ANSWER-Reliability can be improved by the use of backup components.
False - ANSWER-To save money, it is essential that designers revise the production
capabilities to meet the requirements of the new products.
False - ANSWER-Robust design describes a product that will perform satisfactorily so
long as it is used in a very narrow range of conditions.
True - ANSWER-A service blueprint is quite similar to an architectural drawing.
False - ANSWER-A house of quality is achieved when no department in a single
location has more than 15 percent rejects.
True - ANSWER-Applied research is the major R&D effort of business organizations
because of their desire for commercial applications.
False - ANSWER-Taguchi design methods involve identifying the optimal operating or
environmental conditions for a given product.
True - ANSWER-Reliability can be defined in terms of a particular point in time or in
terms of length of service.
True - ANSWER-The demand for a product and the rate of technological change have a
significant impact on the length of a given phase of the product life cycle.
True - ANSWER-Product liability means that a manufacturer is liable for any injuries or
damages caused by a faulty product because of poor workmanship or design.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller NursingTutor1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.