Course Operations Management-16SP Test Quiz 4 Started 2/18/16 11:27 PM Submitted 2/18/16 11:48 PM Status Completed Attempt Score 100 out of 100 points Time Elapsed 20 minutes. Instructions
• Question 1

5 out of 5 points

Suppose that the last four months of sales were 8, 10, 15, and 9 units, respectively. Suppose further that the last four forecasts were 5, 6, 11, and 12 units, respectively. What is the Mean Absolute Deviation (MAD) of these forecasts?

• Question 2

5 out of 5 points

If Brandon Edward were working to develop a forecast using a moving averages approach, but he noticed a detectable trend in the historical data, he should:

 Selected Answer: use weights to place more emphasis on recent data. Correct Answer: use weights to place more emphasis on recent data.
• Question 3

5 out of 5 points

As compared to long-range forecasts, short-range forecasts:

 Selected Answer: deal with less comprehensive issues supporting management decisions. Correct Answer: deal with less comprehensive issues supporting management decisions.
• Question 4

5 out of 5 points

A forecast with a time horizon of about 3 months to 3 years is typically called a:

• Question 5

5 out of 5 points

The fundamental difference between cycles and seasonality is the:

 Selected Answer: duration of the repeating patterns. Correct Answer: duration of the repeating patterns.
• Question 6

5 out of 5 points

A forecast based on the previous forecast plus a percentage of the forecast error is a(n):

• Question 7

5 out of 5 points

In time series, which of the following cannot be predicted?

• Question 8

5 out of 5 points

Which of the following most requires long-range forecasting (as opposed to short-range or medium-range forecasting) for its planning purposes?

• Question 9

5 out of 5 points

The three major types of forecasts used by organizations in planning future operations are:

 Selected Answer: economic, technological, and demand. Correct Answer: economic, technological, and demand.
• Question 10

5 out of 5 points

Suppose that the demand in period 1 was 7 units and the demand in period 2 was 9 units. Assume that the forecast for period 1 was for 5 units. If the firm uses exponential smoothing with an alpha value of .20, what should be the forecast for period 3? (Round answers to two decimal places.)

• Question 11

5 out of 5 points

Given an actual demand this period of 103, a forecast value for this period of 99, and an alpha of .4, what is the exponential smoothing forecast for next period?

• Question 12

5 out of 5 points

Given forecast errors of -1, 4, 8, and -3, what is the mean absolute deviation?

• Question 13

5 out of 5 points

What two numbers are contained in the daily report to the CEO of Walt Disney Parks & Resorts regarding the six Orlando parks?

 Selected Answer: yesterday’s forecasted attendance and yesterday’s actual attendance Correct Answer: yesterday’s forecasted attendance and yesterday’s actual attendance
• Question 14

5 out of 5 points

The two general approaches to forecasting are:

• Question 15

5 out of 5 points

Which of the following uses three types of participants: decision makers, staff personnel, and respondents?

• Question 16

5 out of 5 points

The forecasting technique that pools the opinions of a group of experts or managers is known as:

 Selected Answer: jury of executive opinion. Correct Answer: jury of executive opinion.
• Question 17

5 out of 5 points

A six-month moving average forecast is generally better than a three-month moving average forecast if demand:

• Question 18

5 out of 5 points

Given an actual demand this period of 61, a forecast for this period of 58, and an alpha of 0.3, what would the forecast for the next period be using exponential smoothing?

• Question 19

5 out of 5 points

What forecasting systems combine the intelligence of multiple supply chain partners?