MAR 3203 EXAM 1 UCF EXAM QUESTIONS WITH CORRECT ANSWERS |LATEST UPDATE 100%
SOLVED| GRADED A+
A regression model is used to forecast sales based on advertising dollars spent. The regression
line is y=500+35x and the coefficient of determination is .90. Which is the best statement about
this forecasting model? The correlation between sales and advertising is positive.
Which of the following statements about time-series forecasting is true? It is based on the
assumption that the analysis of past demand helps predict future demand.
The tracking signal is the__________ ratio of cumulative error/MAD
Quantitative methods of forecasting include Exponential smoothing
The degree or strength of a relationship between two variables is shown by the__________
correlation coefficient
The last four weekly values of sales were 80, 100, 105, and 90 units. The last four forecasts
were 60, 80, 95, and 75 units. These forecasts illustrate: Bias
Which time-series model assumes that demand in the next period will be equal to the most
recent period's demand? Naïve approach
, The primary purpose of the mean absolute deviation (MAD) in forecasting is to: Measure
forecast accuracy
Which of the following smoothing constants would make an exponential smoothing forecast
equivalent to a naïve forecast? 1.0
Time-series patterns that repeat themselves after a period of days or weeks are called
__________ seasonality
Which of the following uses three types of participants: decision makers, staff personnel, and
respondents? The Delphi method
Forecasts are usually classified into three categories including: Short-range, medium-range,
and long-range
Forecasts used for new product planning, capital expenditures, facility location or expansion,
and R&D typically utilize a__________ long-range time horizon
A forecast that projects a company's sales is a(n): Demand forecast
For a given product demand, the time-series trend equation is 53 - 4X. The negative sign on the
slope of the equation: is an indication that product demand is declining
SOLVED| GRADED A+
A regression model is used to forecast sales based on advertising dollars spent. The regression
line is y=500+35x and the coefficient of determination is .90. Which is the best statement about
this forecasting model? The correlation between sales and advertising is positive.
Which of the following statements about time-series forecasting is true? It is based on the
assumption that the analysis of past demand helps predict future demand.
The tracking signal is the__________ ratio of cumulative error/MAD
Quantitative methods of forecasting include Exponential smoothing
The degree or strength of a relationship between two variables is shown by the__________
correlation coefficient
The last four weekly values of sales were 80, 100, 105, and 90 units. The last four forecasts
were 60, 80, 95, and 75 units. These forecasts illustrate: Bias
Which time-series model assumes that demand in the next period will be equal to the most
recent period's demand? Naïve approach
, The primary purpose of the mean absolute deviation (MAD) in forecasting is to: Measure
forecast accuracy
Which of the following smoothing constants would make an exponential smoothing forecast
equivalent to a naïve forecast? 1.0
Time-series patterns that repeat themselves after a period of days or weeks are called
__________ seasonality
Which of the following uses three types of participants: decision makers, staff personnel, and
respondents? The Delphi method
Forecasts are usually classified into three categories including: Short-range, medium-range,
and long-range
Forecasts used for new product planning, capital expenditures, facility location or expansion,
and R&D typically utilize a__________ long-range time horizon
A forecast that projects a company's sales is a(n): Demand forecast
For a given product demand, the time-series trend equation is 53 - 4X. The negative sign on the
slope of the equation: is an indication that product demand is declining
