OPMA 3306 CHAPTER 03 EXAM
QUESTIONS AND ANSWERS
In time series data depicting demand which of the following is not considered a
component of demand variation? - Correct Answers -Variance
Which of the following is not one of the basic types of forecasting? - Correct Answers -
Force field analysis
A company wants to forecast demand using the weighted moving average. If the
company uses three prior yearly sales values (i.e., year 2011 = 160, year 2012 = 140
and year 2013 = 170), and we want to weight year 2011 at 30%, year 2012 at 30% and
year 2013 at 40%, which of the following is the weighted moving average forecast for
year 2014? - Correct Answers -Forecast for 2014 = (160x0.3) + (140x0.3) + (170x0.4) =
158
Given a prior forecast demand value of 230, a related actual demand value of 250, and
a smoothing constant alpha of 0.1, what is the exponential smoothing forecast value for
the following period? - Correct Answers -Forecast = 230 + 0.1 x (250-230) = 232
In most cases, demand for products or services can be broken down into several
components. Which of the following is not considered a component of demand? -
Correct Answers -Past data
In most cases, demand for products or services can be broken into several
components. Which of the following is considered a component of demand? - Correct
Answers -Cyclical elements
Which of the following forecasting methodologies is considered a qualitative forecasting
technique? - Correct Answers -Market research
Which of the following forecasting methodologies is considered a time series forecasting
technique? - Correct Answers -Simple moving average
Which of the following forecasting methodologies is considered a causal forecasting
technique? - Correct Answers -Linear regression
Which of the following forecasting methods uses executive judgment as its primary
component for forecasting? - Correct Answers -Panel Consensus
QUESTIONS AND ANSWERS
In time series data depicting demand which of the following is not considered a
component of demand variation? - Correct Answers -Variance
Which of the following is not one of the basic types of forecasting? - Correct Answers -
Force field analysis
A company wants to forecast demand using the weighted moving average. If the
company uses three prior yearly sales values (i.e., year 2011 = 160, year 2012 = 140
and year 2013 = 170), and we want to weight year 2011 at 30%, year 2012 at 30% and
year 2013 at 40%, which of the following is the weighted moving average forecast for
year 2014? - Correct Answers -Forecast for 2014 = (160x0.3) + (140x0.3) + (170x0.4) =
158
Given a prior forecast demand value of 230, a related actual demand value of 250, and
a smoothing constant alpha of 0.1, what is the exponential smoothing forecast value for
the following period? - Correct Answers -Forecast = 230 + 0.1 x (250-230) = 232
In most cases, demand for products or services can be broken down into several
components. Which of the following is not considered a component of demand? -
Correct Answers -Past data
In most cases, demand for products or services can be broken into several
components. Which of the following is considered a component of demand? - Correct
Answers -Cyclical elements
Which of the following forecasting methodologies is considered a qualitative forecasting
technique? - Correct Answers -Market research
Which of the following forecasting methodologies is considered a time series forecasting
technique? - Correct Answers -Simple moving average
Which of the following forecasting methodologies is considered a causal forecasting
technique? - Correct Answers -Linear regression
Which of the following forecasting methods uses executive judgment as its primary
component for forecasting? - Correct Answers -Panel Consensus
