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Exam 15: Demand Management and Forecasting

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Question 41

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In most cases,demand for products or services can be broken into several components.Which of the following is considered a component of demand?

A) Cyclical elements
B) Future demand
C) Past demand
D) Inconsistent demand
E) Level demand

F) D) and E)
G) A) and C)

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Question 42

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The exponential smoothing method requires which of the following data to forecast the future?

A) The most recent forecast,the most recent demand and the smoothing constant
B) Precise actual demand for the past 10-15 years
C) The slope of the trendline and the seasonality peak-to-trough ratio
D) Overall industry demand data
E) Tracking values alpha,beta and gamma

F) A) and D)
G) None of the above

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Question 43

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If a firm produced a product that is experiencing growth in demand,the smoothing constant alpha used in an exponential smoothing forecasting model would tend to be which of the following?

A company wants to forecast demand using the weighted moving average.If the company uses two prior yearly sales values and we want to weight year 2007 at 10% and year 2008 at 90%,which of the following is the weighted moving average forecast for year 2009?

A company wants to forecast demand using the simple moving average.If the company uses three prior yearly sales values ,which of the following is the simple moving average forecast for year 2009?

Which of the following forecasting methodologies is considered a qualitative forecasting technique?

Name the four basic types of forecasting?

A company has calculated its running sum of forecast errors to be 1,000 and its tracking signal is 50.What is the company's mean absolute deviation?

In the simple exponential smoothing forecasting model you need at least 100 observations to set the weight.

What three pieces of data are needed to use the exponential smoothing method of forecasting the future?

In the weighted moving average forecasting model the weights must add up to one times the number of data points.

Focus forecasting is an approach to forecasting that tries several rules that seem logical and easy to understand to project past data into the future.

A company wants to forecast demand using the simple moving average.If the company uses four prior yearly sales values ,which of the following is the simple moving average forecast for year 2009?

In business forecasting,what is usually considered a medium-term time period?

Which of the following forecasting methodologies is considered a time series forecasting technique?

A company has calculated its running sum of forecast errors to be 400 and its mean absolute deviation is exactly 25.What is the company's tracking signal?

Given a prior forecast demand value of 1,100,a related actual demand value of 1,000 and a smoothing constant alpha of 0.3,what is the exponential smoothing forecast value?

Linear regression is not useful for aggregate planning.

A company has calculated its running sum of forecast errors to be 500 and its mean absolute deviation is exactly 35.Which of the following is the company's tracking signal?

As a consultant you have been asked to generate a unit demand forecast for a product for Year 2009 using exponential smoothing.Actual demand in year 2008 was 950 but the forecast for that year 1,060.Using this data and a smoothing constant alpha of 0.5,which of the following is the resulting year 2009 forecast value?