True - ANSWERSCorrelation measures the strength and direction of a relationship between variables
True - ANSWERSThe Delphi approach involves the use of a series of questionnaires to achieve a consensus forecast
True - ANSWERSIn order to update a moving average forecast, the value of each data...
True - ANSWERSCorrelation measures the strength and direction of a relationship between variables
True - ANSWERSThe Delphi approach involves the use of a series of questionnaires to achieve a
consensus forecast
True - ANSWERSIn order to update a moving average forecast, the value of each data point in the
average must be known
False - ANSWERSForecasts based on time-series (historical) data are referred to as associative forecasts
True - ANSWERSThe best forecast is not necessarily the most accurate
False - ANSWERSMAD is equal to the square root of MSE, which is why we calculate the easier MSE and
then calculate the more difficult MAD
True - ANSWERSOrganizations that are capable of responding quickly to changing requirements can use a
shorter forecast horizon and therefore benefit from more accurate forecasts
True - ANSWERSAn advantage of trend-adjusted exponential smoothing over the linear trend equation is
its ability to adjust over time to changes in the trend
True - ANSWERSTrend-adjusted exponential smoothing requires selection of two smoothing constants
True - ANSWERSAn 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 - ANSWERSWhich 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. - ANSWERSWhich of the following is a potential shortcoming of using
sales force opinions in demand forecasting?
Demand forecasts - ANSWERSWhich of the following is/are a primary input into capacity, sales, and
production planning?
False - ANSWERSRobust design describes a product that will perform satisfactorily so long as it is used in
a very narrow range of conditions.
True - ANSWERSA service blueprint is quite similar to an architectural drawing.
False - ANSWERSA house of quality is achieved when no department in a single location has more than
15 percent rejects.
True - ANSWERSApplied research is the major R&D effort of business organizations because of their
desire for commercial applications.
False - ANSWERSTaguchi design methods involve identifying the optimal operating or environmental
conditions for a given product.
True - ANSWERSReliability can be defined in terms of a particular point in time or in terms of length of
service.
True - ANSWERSThe 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 - ANSWERSProduct liability means that a manufacturer is liable for any injuries or damages caused
by a faulty product because of poor workmanship or design.
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