OPMA 3306 Chapter 1-4/6-8 w/ quizzes with accurate
answers
Ans🗸🗸🗸 focus resources accordingly
3-11 LO 3-03
Using the exponential smoothing model for forecasting, the smoothing
constant alpha determines the level of smoothing and...
a) the slope of the growth curve
b) the strength of reaction to differences between forecast and the actual
results
c) the intercept on the y-axis
d) the next forecast error
e) a measure of forecast accuracy Ans🗸🗸🗸 b) the strength of reaction
between forecast and the actual results
3-11 LO 3-03
Which of the following forecasting methods is very dependent on
selection of the right individuals who will judgmentally be used to
actually generate the forecast?
a) time series analysis
b) simple moving average
c) weighted moving average
d) delphi method
e) panel consensus Ans🗸🗸🗸 d) delphi method
,Step-by-step procedure: choose the experts to participate: there should
be a variety of knowledgeable people in different areas
3-20 LO 3-02
A company wants to forecast demand using the simple moving average.
If the company uses four prior yearly sales values (year 2014 = 100, year
2015 = 120, year 2016 = 140, and year 2017 = 210), which of the
following is the simple moving average forecast for year 2018?
a) 100.5
b) 140.0
c) 142.5
d)145.5
e) 155.0 Ans🗸🗸🗸 c) 142.5
forecast for 2018 = (100+120+140+210)/(4) = 570/4 = 142.5
3-23 LO 3-02
A company wants to forecast demand using weighted moving average. If
the company uses three prior yearly sales values (2015 = 160, 2016 =
140, and 2017 = 170), and we want to weigh year 2015 at 30%, year
2016 at 30% and year 2017 at 40%, which of the following is the
weighted moving average forecast for year 2018?
a) 170
b) 168
c) 158
d) 152
,e) 156 Ans🗸🗸🗸 c) 158
forecast for 2018 = (160x0.3)+(140x0.3)+(170x0.4) = 158
3-24 LO 3-02
Which of the following are among the major reasons that exponential
smoothing has become well accepted as a forecasting technique?
a) accurate and easy to use
b) sophistication of analysis
c) predicts turning point
d) captures patterns in historical data
e) ability to forecast lagging data trends Ans🗸🗸🗸 a) accurate and easy
to use
3-3 LO 3-01
Which of the following is not one of the basic forecasting types
discussed in the text?
a) qualitative
b) time series analysis
c) casual relationships
d) simulation
e) force vector analysis Ans🗸🗸🗸 e) force vector analysis
3-3 LO 3-02
, In most cases, demand for products or services can bebroken down into
several components. Which of the following is not considered a
component of demand?
a) average demand for a period
b) a trend
c) seasonal elements
d) past data
e) autocorrelation Ans🗸🗸🗸 d) past data
3-48 LO 3-04
Collaborative Planning, Forecasting, and Replenishment (CPFR) is a
web-based tool used to coordinate demand forecasting, production nd
purchase planning, and inventory replenishment between supply chain
trading partners. in practice CPFR often doesn't deliver on its' promise
because...
1) computer systems at supplier companies cannot be made to work with
each other
2) forecast errors accumulate as data exchanges are made down the
supply chain cumulating in the 'feast or famine' phenomena known as
the 'bullwhip effect'
3) firms in supply chain may not trust each other sufficiently to share
information openly
4) conflicting objectives between the profit-maximizing vendor and the
cost-minimizing customer give rise to adversarial supply chain
relationships Ans🗸🗸🗸 Choices 3 and 4
3-7 LO 3-02
answers
Ans🗸🗸🗸 focus resources accordingly
3-11 LO 3-03
Using the exponential smoothing model for forecasting, the smoothing
constant alpha determines the level of smoothing and...
a) the slope of the growth curve
b) the strength of reaction to differences between forecast and the actual
results
c) the intercept on the y-axis
d) the next forecast error
e) a measure of forecast accuracy Ans🗸🗸🗸 b) the strength of reaction
between forecast and the actual results
3-11 LO 3-03
Which of the following forecasting methods is very dependent on
selection of the right individuals who will judgmentally be used to
actually generate the forecast?
a) time series analysis
b) simple moving average
c) weighted moving average
d) delphi method
e) panel consensus Ans🗸🗸🗸 d) delphi method
,Step-by-step procedure: choose the experts to participate: there should
be a variety of knowledgeable people in different areas
3-20 LO 3-02
A company wants to forecast demand using the simple moving average.
If the company uses four prior yearly sales values (year 2014 = 100, year
2015 = 120, year 2016 = 140, and year 2017 = 210), which of the
following is the simple moving average forecast for year 2018?
a) 100.5
b) 140.0
c) 142.5
d)145.5
e) 155.0 Ans🗸🗸🗸 c) 142.5
forecast for 2018 = (100+120+140+210)/(4) = 570/4 = 142.5
3-23 LO 3-02
A company wants to forecast demand using weighted moving average. If
the company uses three prior yearly sales values (2015 = 160, 2016 =
140, and 2017 = 170), and we want to weigh year 2015 at 30%, year
2016 at 30% and year 2017 at 40%, which of the following is the
weighted moving average forecast for year 2018?
a) 170
b) 168
c) 158
d) 152
,e) 156 Ans🗸🗸🗸 c) 158
forecast for 2018 = (160x0.3)+(140x0.3)+(170x0.4) = 158
3-24 LO 3-02
Which of the following are among the major reasons that exponential
smoothing has become well accepted as a forecasting technique?
a) accurate and easy to use
b) sophistication of analysis
c) predicts turning point
d) captures patterns in historical data
e) ability to forecast lagging data trends Ans🗸🗸🗸 a) accurate and easy
to use
3-3 LO 3-01
Which of the following is not one of the basic forecasting types
discussed in the text?
a) qualitative
b) time series analysis
c) casual relationships
d) simulation
e) force vector analysis Ans🗸🗸🗸 e) force vector analysis
3-3 LO 3-02
, In most cases, demand for products or services can bebroken down into
several components. Which of the following is not considered a
component of demand?
a) average demand for a period
b) a trend
c) seasonal elements
d) past data
e) autocorrelation Ans🗸🗸🗸 d) past data
3-48 LO 3-04
Collaborative Planning, Forecasting, and Replenishment (CPFR) is a
web-based tool used to coordinate demand forecasting, production nd
purchase planning, and inventory replenishment between supply chain
trading partners. in practice CPFR often doesn't deliver on its' promise
because...
1) computer systems at supplier companies cannot be made to work with
each other
2) forecast errors accumulate as data exchanges are made down the
supply chain cumulating in the 'feast or famine' phenomena known as
the 'bullwhip effect'
3) firms in supply chain may not trust each other sufficiently to share
information openly
4) conflicting objectives between the profit-maximizing vendor and the
cost-minimizing customer give rise to adversarial supply chain
relationships Ans🗸🗸🗸 Choices 3 and 4
3-7 LO 3-02
