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?

Answer

Selected Answer:  

3.5

Correct Answer:  

3.5

  • 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:

Answer

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:

Answer

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:

Answer

Selected Answer:  

medium-range forecast.

Correct Answer:  

medium-range forecast.

  • Question 5

5 out of 5 points

The fundamental difference between cycles and seasonality is the:

Answer

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):

Answer

Selected Answer:  

exponential smoothing forecast.

Correct Answer:  

exponential smoothing forecast.

  • Question 7

5 out of 5 points

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

Answer

Selected Answer:  

random variations

Correct Answer:  

random variations

  • 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?

Answer

Selected Answer:  

capital expenditures

Correct Answer:  

capital expenditures

  • Question 9

5 out of 5 points

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

Answer

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.)

Answer

Selected Answer:  

6.12

Correct Answer:  

6.12

  • 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?

Answer

Selected Answer:  

100.6

Correct Answer:  

100.6

  • Question 12

5 out of 5 points

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

Answer

Selected Answer:  

4

Correct Answer:  

4

  • 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?

Answer

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:

Answer

Selected Answer:  

qualitative and quantitative.

Correct Answer:  

qualitative and quantitative.

  • Question 15

5 out of 5 points

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

Answer

Selected Answer:  

Delphi method

Correct Answer:  

Delphi method

  • Question 16

5 out of 5 points

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

Answer

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:

Answer

Selected Answer:  

is rather stable.

Correct Answer:  

is rather stable.

  • 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?

Answer

Selected Answer:  

58.9

Correct Answer:  

58.9

  • Question 19

5 out of 5 points

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

Answer

Selected Answer:  

CPFR

Correct Answer:  

CPFR

  • Question 20

5 out of 5 points

For a given product demand, the time-series trend equation is 53 – 4x. The negative sign on the slope of the equation:

Answer

Selected Answer:  

is an indication that product demand is declining.

Correct Answer:  

is an indication that product demand is declining.