BCOR 360 Final Exam Review Latest
2025 Questions and Answers(verified
by experts)|Already Graded A+
Given the following linear demand forecast, what is the predicted forecast at period 14?
Demand = 100 + 15 X (where X is the desired forecast period) - CORRECT ANSWER-d
A model with a positive mean forecast error suggests that, on average, the model underforecasts -
CORRECT ANSWER-True
,"The planning, scheduling, and control of the activities that transform inputs into finished goods and
services" is the definition of _____ - CORRECT ANSWER-Operations Management
Translates the business strategy into specific actions and coordinates with other areas" is the definition
of - CORRECT ANSWER-functional strategy
Which of the following is an infrastructural element of a business strategy? - CORRECT ANSWER-
policies
Performance dimensions for which customers expect a minimum level of performance, but do not
provide a competitive advantage" is the definition of - CORRECT ANSWER-Order qualifiers
Electra wants to purchase a laptop for use in her MBA program so she can work on assignments and surf
the web while the professor drones on endlessly. After consulting with her colleagues, she chooses the
dimensions of cost, weight, processor speed, and touchscreen capability as critical to her long term
success and amusement. She evaluates two different laptops and rates their performance on each
criterion on a scale from 1 (poor) to 5 (excellent). Which laptop should Electra purchase? - CORRECT
ANSWER-Knockoff
"An estimate of the future value of some variable" is the definition of - CORRECT ANSWER-a forecast
Which of the following statements about forecasts is true? - CORRECT ANSWER-Forecasts for the near
term tend to be more accurate.
The situation is vague and little data exists, as in the case of new products or technologies. In this case,
which of the following forecasting approach is used? - CORRECT ANSWER-qualitative method
A long-term movement up or down in a time series is called - CORRECT ANSWER-trend.
A firm's demand data from the last two quarter is displayed in the table. Use a three period moving
average to forecast demand for July. - CORRECT ANSWER-217
,A firm's demand data from the last two quarter is displayed in the table. Use a three period weighted
moving average with Wt = 0.7, Wtminus1 = 0.2, and Wtminus2 = 0.1 to forecast demand for July. -
CORRECT ANSWER-235.2
A counseling service records the number of calls to their hotline for the last year. What is the forecast
for August if the forecast for June was 164 and the service uses exponential smoothing with an alpha of
0.8? - CORRECT ANSWER-175.36
Multiple regression is used when the forecaster believes that more than one independent variable
should be used to predict the variable of interest. - CORRECT ANSWER-True
Elm Lake Fire Department wants to forecast the demand for structure fires. The last five years of data
are shown below.
Year Demand
1 12
2 16
3 10
49
5 13
Using simple exponential smoothing with alpha=.3, forecast the demand for period 6. Assume that the
forecast for Year 1 = 15. - CORRECT ANSWER-C
"Performance dimensions highly valued by customers that differentiate a company's products and
services from its competitors" is the definition of - CORRECT ANSWER-order winners
A model with a positive mean forecast error suggests that, on average, the model underforecasts. -
CORRECT ANSWER-True
, Given the following historical demand and forecast, calculate the Tracking Signal in Week 3:
Week 1 Demand: 50 Forecast: 47
Week 2 Demand: 54 Forecast: 56
Week 3 Demand: 58 Forecast: 57 - CORRECT ANSWER-1.00
______________ refers to the broad set of activities carried out by organizations to analyze sourcing
opportunities, develop sourcing strategies, select suppliers, and carry out all the activities required to
procure goods and services - CORRECT ANSWER-Supply management
______________ is the purchased cost of goods from outside suppliers - CORRECT ANSWER-COGS
Flingers Inc. reveals the following information in their annual report for FY 2014.
Earnings and Expenses
Sales $10,000,000
Cost of goods sold $5,000,000
Pretax earnings $500,000
Selected Balance Sheet Items
Merchandise inventory $80,000
Total assets $2,000,000
Every dollar Flingers saves in purchasing has the same impact as what amount of increased sales? -
CORRECT ANSWER-20
Dusty is evaluating two bids to supply fence hardware for the 5 acres of pasture that need to be fenced.
Breezy submits a bid of $40 per unit with a defect rate of 3%, and Lady's bid is $50 per unit with a defect
rate of 0.5%. If a section of fence fails, it costs an average of $500 in losses and herding costs to round
2025 Questions and Answers(verified
by experts)|Already Graded A+
Given the following linear demand forecast, what is the predicted forecast at period 14?
Demand = 100 + 15 X (where X is the desired forecast period) - CORRECT ANSWER-d
A model with a positive mean forecast error suggests that, on average, the model underforecasts -
CORRECT ANSWER-True
,"The planning, scheduling, and control of the activities that transform inputs into finished goods and
services" is the definition of _____ - CORRECT ANSWER-Operations Management
Translates the business strategy into specific actions and coordinates with other areas" is the definition
of - CORRECT ANSWER-functional strategy
Which of the following is an infrastructural element of a business strategy? - CORRECT ANSWER-
policies
Performance dimensions for which customers expect a minimum level of performance, but do not
provide a competitive advantage" is the definition of - CORRECT ANSWER-Order qualifiers
Electra wants to purchase a laptop for use in her MBA program so she can work on assignments and surf
the web while the professor drones on endlessly. After consulting with her colleagues, she chooses the
dimensions of cost, weight, processor speed, and touchscreen capability as critical to her long term
success and amusement. She evaluates two different laptops and rates their performance on each
criterion on a scale from 1 (poor) to 5 (excellent). Which laptop should Electra purchase? - CORRECT
ANSWER-Knockoff
"An estimate of the future value of some variable" is the definition of - CORRECT ANSWER-a forecast
Which of the following statements about forecasts is true? - CORRECT ANSWER-Forecasts for the near
term tend to be more accurate.
The situation is vague and little data exists, as in the case of new products or technologies. In this case,
which of the following forecasting approach is used? - CORRECT ANSWER-qualitative method
A long-term movement up or down in a time series is called - CORRECT ANSWER-trend.
A firm's demand data from the last two quarter is displayed in the table. Use a three period moving
average to forecast demand for July. - CORRECT ANSWER-217
,A firm's demand data from the last two quarter is displayed in the table. Use a three period weighted
moving average with Wt = 0.7, Wtminus1 = 0.2, and Wtminus2 = 0.1 to forecast demand for July. -
CORRECT ANSWER-235.2
A counseling service records the number of calls to their hotline for the last year. What is the forecast
for August if the forecast for June was 164 and the service uses exponential smoothing with an alpha of
0.8? - CORRECT ANSWER-175.36
Multiple regression is used when the forecaster believes that more than one independent variable
should be used to predict the variable of interest. - CORRECT ANSWER-True
Elm Lake Fire Department wants to forecast the demand for structure fires. The last five years of data
are shown below.
Year Demand
1 12
2 16
3 10
49
5 13
Using simple exponential smoothing with alpha=.3, forecast the demand for period 6. Assume that the
forecast for Year 1 = 15. - CORRECT ANSWER-C
"Performance dimensions highly valued by customers that differentiate a company's products and
services from its competitors" is the definition of - CORRECT ANSWER-order winners
A model with a positive mean forecast error suggests that, on average, the model underforecasts. -
CORRECT ANSWER-True
, Given the following historical demand and forecast, calculate the Tracking Signal in Week 3:
Week 1 Demand: 50 Forecast: 47
Week 2 Demand: 54 Forecast: 56
Week 3 Demand: 58 Forecast: 57 - CORRECT ANSWER-1.00
______________ refers to the broad set of activities carried out by organizations to analyze sourcing
opportunities, develop sourcing strategies, select suppliers, and carry out all the activities required to
procure goods and services - CORRECT ANSWER-Supply management
______________ is the purchased cost of goods from outside suppliers - CORRECT ANSWER-COGS
Flingers Inc. reveals the following information in their annual report for FY 2014.
Earnings and Expenses
Sales $10,000,000
Cost of goods sold $5,000,000
Pretax earnings $500,000
Selected Balance Sheet Items
Merchandise inventory $80,000
Total assets $2,000,000
Every dollar Flingers saves in purchasing has the same impact as what amount of increased sales? -
CORRECT ANSWER-20
Dusty is evaluating two bids to supply fence hardware for the 5 acres of pasture that need to be fenced.
Breezy submits a bid of $40 per unit with a defect rate of 3%, and Lady's bid is $50 per unit with a defect
rate of 0.5%. If a section of fence fails, it costs an average of $500 in losses and herding costs to round
