Question 1

The impact of poor communication and inaccurate forecasts resonates along the supply chain and results in the:

Accepted Answer

A)   Bullwhip effect
B)   Delphi method
C)   CPFR effect
D)   Mean deviation

Question 2

A positive error implies that a forecast was?

Accepted Answer

A)   Too low
B)   Too high
C)   Neither too high or too low
D)   The sign of an error gives no information as to the direction of the error

Question 3

Minimizing the negative impacts of the bullwhip effect on supply chains is one of the goals of an effective CPFR system.

Accepted Answer

A) True 
 B)False

Question 4

The Delphi forecasting approach is applicable for high-risk technology forecasting; large, expensive projects; or major new product introductions

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is a major cultural issue and big hurdle for widespread implementation of CPFR?

Accepted Answer

A)   There is no software available to use
B)   Global economic changes
C)   Trust
D)   All of the above

Question 6

The four components of time series data are: trend variations, cyclical variations, seasonal variations, and random variations.Briefly describe each type of variation.

Accepted Answer

a.Trend variations:Trend variations can ...

Question 7

What is considered an acceptable range for a tracking signal?

Accepted Answer

A)   ±1
B)   ±2
C)   ±3
D)   ±10

Question 8

Cyclical variations are longer than a year and can be influenced by:

Accepted Answer

A)   Events such as natural disasters
B)   Imbalances in supply and demand
C)   Political factors
D)   Population growth

Question 9

List and Explain two types of qualitative forecasting methods.

Accepted Answer

a.Jury of Executive Opinion:This type of...

Question 10

It is possible to expect 100 percent forecast accuracy most of the time.

Accepted Answer

A) True 
 B)False

Question 11

Trend variations are wavelike movements that are shorter than a year.

Accepted Answer

A) True 
 B)False

Question 12

Which one of the following is NOT a type of qualitative forecasting?

Accepted Answer

A)   Sales force composite
B)   Consumer survey
C)   Jury of executive opinion
D)   Simple moving average

Question 13

Quantitative forecasts use mathematical techniques that are based on:

Accepted Answer

A)   Expert opinions
B)   Surveys
C)   Historical data
D)   Sales force knowledge of the market

Question 14

Your company is conducting forecasting that revolves around population growth in large cities.This type of forecasting can be referred to as what component of a time series?

Accepted Answer

A)   Cyclical Variations
B)   Trend Variations
C)   Seasonal Variations
D)   Random Variations

Question 15

The goal of a good forecasting technique is to minimize the deviation between actual demand and the forecast.

Accepted Answer

A) True 
 B)False

Question 16

Regression analysis is commonly used in the cause-and-effect forecasting model.

Accepted Answer

A) True 
 B)False

Question 17

Based on the information in the data set below, what is the mean squared error (accurate to 1 decimal) ?

Accepted Answer

A)   8.0
B)   10.0
C)   1.00
D)   0.8

Question 18

The smoothing constant for exponential smoothing must be?

Accepted Answer

A)   Positive
B)   Negative
C)   Between 0 and 1
D)   Greater than 1

Question 19

Random variations in a Time Series component are due to:

Accepted Answer

A)   Population growth
B)   Unpredictable events
C)   Using a large value for the exponential smoothing constant
D)   Inaccurate responses of the expert participants

Exam 5: Demand Forecasting

Trend variations are wavelike movements that are shorter than a year.

Correct Answer
verified

The goal of a good forecasting technique is to minimize the deviation between actual demand and the forecast.

Correct Answer
verified

Random variations in a Time Series component are due to:

Correct Answer
verified

What is considered an acceptable range for a tracking signal?

Correct Answer
verified

A positive error implies that a forecast was?

Correct Answer
verified

Minimizing the negative impacts of the bullwhip effect on supply chains is one of the goals of an effective CPFR system.

Correct Answer
verified

The Delphi forecasting approach is applicable for high-risk technology forecasting; large, expensive projects; or major new product introductions

Correct Answer
verified

The four components of time series data are: trend variations, cyclical variations, seasonal variations, and random variations.Briefly describe each type of variation.

Correct Answer
verified
a.Trend variations:Trend variations can ...
View Answer

The smoothing constant for exponential smoothing must be?

Correct Answer
verified

The impact of poor communication and inaccurate forecasts resonates along the supply chain and results in the:

Correct Answer
verified

Quantitative forecasts use mathematical techniques that are based on:

Correct Answer
verified

Based on the information in the data set below, what is the mean squared error (accurate to 1 decimal) ?

Correct Answer
verified

Your company is conducting forecasting that revolves around population growth in large cities.This type of forecasting can be referred to as what component of a time series?

Correct Answer
verified

It is possible to expect 100 percent forecast accuracy most of the time.

Correct Answer
verified

Cyclical variations are longer than a year and can be influenced by:

Correct Answer
verified

Which one of the following is NOT a type of qualitative forecasting?

Correct Answer
verified

Which of the following is a major cultural issue and big hurdle for widespread implementation of CPFR?

Correct Answer
verified

List and Explain two types of qualitative forecasting methods.

Correct Answer
verified
a.Jury of Executive Opinion:This type of...
View Answer

Regression analysis is commonly used in the cause-and-effect forecasting model.

Correct Answer
verified

Exam 5: Demand Forecasting

Trend variations are wavelike movements that are shorter than a year.

Correct AnswerverifiedShow Answer

The goal of a good forecasting technique is to minimize the deviation between actual demand and the forecast.

Correct AnswerverifiedShow Answer

Random variations in a Time Series component are due to:

Correct AnswerverifiedShow Answer

What is considered an acceptable range for a tracking signal?

Correct AnswerverifiedShow Answer

A positive error implies that a forecast was?

Correct AnswerverifiedShow Answer

Minimizing the negative impacts of the bullwhip effect on supply chains is one of the goals of an effective CPFR system.

Correct AnswerverifiedShow Answer

The Delphi forecasting approach is applicable for high-risk technology forecasting; large, expensive projects; or major new product introductions

Correct AnswerverifiedShow Answer

The four components of time series data are: trend variations, cyclical variations, seasonal variations, and random variations.Briefly describe each type of variation.

Correct Answerverifieda.Trend variations:Trend variations can ...View AnswerShow Answer

The smoothing constant for exponential smoothing must be?

Correct AnswerverifiedShow Answer

The impact of poor communication and inaccurate forecasts resonates along the supply chain and results in the:

Correct AnswerverifiedShow Answer

Quantitative forecasts use mathematical techniques that are based on:

Correct AnswerverifiedShow Answer

Based on the information in the data set below, what is the mean squared error (accurate to 1 decimal) ?

Correct AnswerverifiedShow Answer

Your company is conducting forecasting that revolves around population growth in large cities.This type of forecasting can be referred to as what component of a time series?

Correct AnswerverifiedShow Answer

It is possible to expect 100 percent forecast accuracy most of the time.

Correct AnswerverifiedShow Answer

Cyclical variations are longer than a year and can be influenced by:

Correct AnswerverifiedShow Answer

Which one of the following is NOT a type of qualitative forecasting?

Correct AnswerverifiedShow Answer

Which of the following is a major cultural issue and big hurdle for widespread implementation of CPFR?

Correct AnswerverifiedShow Answer

List and Explain two types of qualitative forecasting methods.

Correct Answerverifieda.Jury of Executive Opinion:This type of...View AnswerShow Answer

Regression analysis is commonly used in the cause-and-effect forecasting model.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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a.Trend variations:Trend variations can ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
a.Jury of Executive Opinion:This type of...
View Answer

Correct Answer
verified