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objective questions on types of forecasting
Typology: Exercises
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Chapter 4: Multiple Choice
Forecasts
1.a.
become more accurate with longer time horizons
1.b.
a r e r a r e l
y perfect
1.c.
a r e more accurate for individual items than for groups
1.d.
a l l of the above
1.e.
none of the above
Ans : b
One purpose of short-range forecasts is to determine
1.f.
production planning
1.g.
i
nventory budgets
1.h.
r e s e a r c
h and development plans
1.i.
f a c i l i t
y location
1.j.
j ob assignments
Ans : e
Forecasts are usually classified by time horizon into three
1.k.
s hort-range, medium-range, and long-range
1.l.
f i nance/accounting, marketing, and operations
1.m.
s t r a t e
gic, tactical, and operational
1.v.
medium-range time horizon
1.w.
l ong-range time horizon
1.x.
naive method, because there is no data history
1.y.
a l l of the above Ans : c
The three major types of forecasts used by business organi
1.z.
s t r a t e
gic, tactical, and operational
1.aa.
e c onomic, technological, and demand
1.bb.
e xponential smoothing, Delphi, and regression
1.cc.
c a usal, time-series, and seasonal
1.dd.
departmental, organizational, and territorial Ans : b
Which of the following is not
a s t e p in the forecasting process?
1.ee.
determine the use of the forecast
1.ff.
e l i minate any assumptions
1.gg.
determine the time horizon
1.hh.
s e l e c t a f
orecasting model(s)
1.ii.
validate and implement the results
Ans : b
8.i.
c onsumer surveys
8.j.
t i me series analysis Ans : c
Which of the following is not
a t ype of qualitative forecasting?
8.k.
e xecutive opinions
8.l.
s a l e s f
orce composites
8.m.
c onsumer surveys
8.n.
t he Delphi method
8.o.
moving average Ans :e
The forecasting model that pools the opinions of a group o
8.p.
s a l e s f
orce composition model
8.q.
multiple regression
8.r.
j ury of executive opinion model
8.s.
c onsumer market survey model
8.t.
management coefficients model Ans : c
Which of the following techniques uses variables such as p
8.u.
a s s ociative models
8.v.
e xponential smoothing
8.w.
weighted moving average
8.x.
s i mple moving average
8.ff.
s e a s onality
8.gg.
c ycles
8.hh.
a l l of the above
Ans : e
Gradual, long-term movement in time-series data is called
15.a.
s e a s onal variation
15.b.
c ycles
15.c.
t r e nds
15.d.
e xponential variation
15.e.
r a ndom variation Ans :c
Which of the following is not
present in a time series?
15.f.
s e a s onality
15.o.
l a r ge increases in demand
15.p.
t e c hnological trends
15.q.
s e a s onal fluctuations
15.r.
r a ndom fluctuations
15.s.
l a r ge decreases in demand Ans : d
What is the approximate forecast for May using a four-mo
Nov. Dec. Jan. Feb.
Mar. April
a.
b.
42
c.
43
d.
44
e.
47 Ans : d
Which time series model below assumes that demand in th
20.a.
naive approach
20.b.
moving average approach
20.c.
weighted moving average approach
20.d.
e xponential smoothing approach
20.e.
none of the above Ans :a
Which of the following is not
a c haracteristic of simple moving averages?
20.f.
A six-month moving average forecast is better than a three
22.a.
i s r a t her stable
22.b.
has been changing due to recent promotional effor
22.c.
f ollows a downward trend
22.d.
f ollows an upward trend
Ans :a
ncreasing the number of periods in a moving average will
22.e.
manager understanding
22.f.
a c c uracy
22.g.
s
t a bility
22.h.
r e s ponsiveness to changes
Ans : d
Which of the following statements comparing the weighte t r ue ? 22.i.
Exponential smoothing is more easily used in com
22.j.
More emphasis can be placed on recent values usi
22.k.
Exponential smoothing is considerably more diffic
22.l.
Exponential smoothing typically requires less reco
Ans :d
Which time series model uses past forecasts and past dema
22.m.
naive
22.n.
moving average
22.o.
weighted moving average
22.x.
Ans : d
Given an actual demand of 103, a previous forecast value
22.y.
22.z.
22.aa.
22.bb.
22.cc.
Ans : c
A forecast based on the previous forecast plus a percentag
29.a.
qualitative forecast
29.b.
naive forecast
29.c.
moving average forecast
29.d.
weighted moving average forecast
29.e.
e xponentially smoothed forecast Ans : e
Given an actual demand of 61, a previous forecast of 58, a
29.f.
29.g.
29.h.
29.i.
29.j.
Ans : c
