OPSY 5315 Exam 2 Questions Well Answered Latest Update 2026/2027
Which of the following is a qualitative forecasting method?
A. linear regression
B. Delphi method
C. naive approach
D. trend projection - Answers B. Delphi Method
Which of the following forecasting steps comes directly after determining the time horizon of
the forecast?
A.
Make the forecast.
B.
Select the forecasting model(s).
C.
Gather the data needed to make the forecast.
D.
Select the items to be forecasted. - Answers B. Select the forecasting model(s).
The goal of CPFR (collaborative, planning, forecasting, and replenishment) in strategic
forecasting is
A.
to create significantly more accurate information that can power the supply chain to greater
sales and profits
B.
to create the forecast with the highest MAD possible.
C.
to create a Gantt Chart.
D.
to create an inventory management system. - Answers A. to create significantly more accurate
,information that can power the supply chain to greater sales and profits
The goal of CPFR is to
A.
determine which model needs to be used to predict future events.
B.
create good relations with suppliers.
C.
ensure product innovation.
D.
create significantly more accurate information that can power the supply chain. - Answers D.
create significantly more accurate information that can power the supply chain.
Which of the following is NOT a time-series model?
A.
naive approach
B.
moving averages
C.
exponential smoothing
D.
multiple regression - Answers D. multiple regression
Forecasting that tries a variety of computer models and selects the best one for a particular
application is referred as
A.
trend projection.
B.
jury of executive opinion.
, C.
adaptive smoothing.
D.
focus forecasting. - Answers D. focus forecasting
Which of the following statements is true regarding forecasting?
A.
A forecast is usually classified by the future time horizon that it covers as exemplified by Disney.
B.
Forecasting may involve taking historical data and projecting them into the future with a
mathematical model.
C.
Forecasting is the art and science of predicting future events.
D.
All of the above. - Answers D. All of the above.
A measure of the strength of the relationship between two variables is referred to as the
A.
standard error of the estimate.
B.
standard deviation of the estimate.
C.
coefficient of correlation.
D.
coefficient of determination. - Answers C. coefficient of correlation
A consistent tendency for forecasts to be greater or less than the actual values is called
________ error.
A.
Which of the following is a qualitative forecasting method?
A. linear regression
B. Delphi method
C. naive approach
D. trend projection - Answers B. Delphi Method
Which of the following forecasting steps comes directly after determining the time horizon of
the forecast?
A.
Make the forecast.
B.
Select the forecasting model(s).
C.
Gather the data needed to make the forecast.
D.
Select the items to be forecasted. - Answers B. Select the forecasting model(s).
The goal of CPFR (collaborative, planning, forecasting, and replenishment) in strategic
forecasting is
A.
to create significantly more accurate information that can power the supply chain to greater
sales and profits
B.
to create the forecast with the highest MAD possible.
C.
to create a Gantt Chart.
D.
to create an inventory management system. - Answers A. to create significantly more accurate
,information that can power the supply chain to greater sales and profits
The goal of CPFR is to
A.
determine which model needs to be used to predict future events.
B.
create good relations with suppliers.
C.
ensure product innovation.
D.
create significantly more accurate information that can power the supply chain. - Answers D.
create significantly more accurate information that can power the supply chain.
Which of the following is NOT a time-series model?
A.
naive approach
B.
moving averages
C.
exponential smoothing
D.
multiple regression - Answers D. multiple regression
Forecasting that tries a variety of computer models and selects the best one for a particular
application is referred as
A.
trend projection.
B.
jury of executive opinion.
, C.
adaptive smoothing.
D.
focus forecasting. - Answers D. focus forecasting
Which of the following statements is true regarding forecasting?
A.
A forecast is usually classified by the future time horizon that it covers as exemplified by Disney.
B.
Forecasting may involve taking historical data and projecting them into the future with a
mathematical model.
C.
Forecasting is the art and science of predicting future events.
D.
All of the above. - Answers D. All of the above.
A measure of the strength of the relationship between two variables is referred to as the
A.
standard error of the estimate.
B.
standard deviation of the estimate.
C.
coefficient of correlation.
D.
coefficient of determination. - Answers C. coefficient of correlation
A consistent tendency for forecasts to be greater or less than the actual values is called
________ error.
A.
