WGU D351 v2 Topic 3 Questions and
Answers| Latest Update
What are the three judgmental forecasting methods? Managerial estimates (in financial
institutions like banks, a bottom-up approach is often used, where each branch passes its
estimates to the head office.) delphi technique (large number of experts take turns presenting a
forecast statement and assumptions. An intermediary passes each expert's forecast and
assumptions to the others, who then make revisions to their own forecasts) Nominal grouping
technique (several people sit around a conference table and independently list their ideas on a
sheet of paper. After ten to twenty minutes, they take turns expressing their ideas to the group. As
these ideas are presented, they are recorded on larger sheets of paper so that everyone can see all
the ideas and refer to them in later parts of the session.)
List an example of a variable. What can change, if we sell X number of contracts how
many employees will we need
When should multiple linear regression be used to forecast demand? When trying to
figure out what you will need based on one variable
When should time series analysis be used to forecast demand? When trying to determine
how many seasonal workers you may need
What are the two judgmental techniques used by organizations to make supply forecasts?
Replacement planning (uses charts that show the names of the current occupants of
positions in the organization and the names of likely replacements.) Succession planning (is
Answers| Latest Update
What are the three judgmental forecasting methods? Managerial estimates (in financial
institutions like banks, a bottom-up approach is often used, where each branch passes its
estimates to the head office.) delphi technique (large number of experts take turns presenting a
forecast statement and assumptions. An intermediary passes each expert's forecast and
assumptions to the others, who then make revisions to their own forecasts) Nominal grouping
technique (several people sit around a conference table and independently list their ideas on a
sheet of paper. After ten to twenty minutes, they take turns expressing their ideas to the group. As
these ideas are presented, they are recorded on larger sheets of paper so that everyone can see all
the ideas and refer to them in later parts of the session.)
List an example of a variable. What can change, if we sell X number of contracts how
many employees will we need
When should multiple linear regression be used to forecast demand? When trying to
figure out what you will need based on one variable
When should time series analysis be used to forecast demand? When trying to determine
how many seasonal workers you may need
What are the two judgmental techniques used by organizations to make supply forecasts?
Replacement planning (uses charts that show the names of the current occupants of
positions in the organization and the names of likely replacements.) Succession planning (is
