BCOR 3050 OSC Exam 1 Questions With Complete
Solutions
Which of the following forecasting methods is the simplest?
-Qualitative
-Casual
-Time Series
-Naive
Naive
Day Customers
1 76
2 85
3 85
4 106
Using the Moving Average forecasting method, calculate the 4-
day moving average forecast for the number of customers on
day 5.
88
Charlie is a materials manager for a clothing manufacturer. He is
required to order materials and keep adequate inventory for
production. While reviewing his purchase orders from the
previous year, his supervisor discovers that Charlie's forecasts
are consistently higher that the actual demand. This is an
example of:
,-Bias Error
-Casual Error
-Seasonality
-Random Error
Bias Error
Which of the following is NOT true about Linear Regression?
-It is one of the most commonly used Casual Methods
-It is a statistical technique that expresses the forecast variable as
a linear function.
-A linear regression model uses historical data
-A linear regression model can only have one independent
variable.
A linear regression model can only have one independent
variable.
The biggest gains in supply chain forecasting have come with
the development of more powerful information technology
T or F
T
Forecasts can be wrong and thats okay, however, it is critical to
try and be as close to the actual demand as possible
T or F
T
, For mathemeatical calculations that include forecasting, Dt
stands for:
Estimated Forecast
Actual Demand
Estimated Demand
Actual Forecast
Actual Demand
Ft:
previous period's forecast
𝝰:
a soothing constant
Dt:
previous period's actual demand
Ft+1:
New forecasting
Month Y1 Y2 Y3
Jan 6400 6200 6500
Feb 5800 6100 5400
Mar 7100 6800 7200
Avg For Y: 6300. 6500. 6700
Solutions
Which of the following forecasting methods is the simplest?
-Qualitative
-Casual
-Time Series
-Naive
Naive
Day Customers
1 76
2 85
3 85
4 106
Using the Moving Average forecasting method, calculate the 4-
day moving average forecast for the number of customers on
day 5.
88
Charlie is a materials manager for a clothing manufacturer. He is
required to order materials and keep adequate inventory for
production. While reviewing his purchase orders from the
previous year, his supervisor discovers that Charlie's forecasts
are consistently higher that the actual demand. This is an
example of:
,-Bias Error
-Casual Error
-Seasonality
-Random Error
Bias Error
Which of the following is NOT true about Linear Regression?
-It is one of the most commonly used Casual Methods
-It is a statistical technique that expresses the forecast variable as
a linear function.
-A linear regression model uses historical data
-A linear regression model can only have one independent
variable.
A linear regression model can only have one independent
variable.
The biggest gains in supply chain forecasting have come with
the development of more powerful information technology
T or F
T
Forecasts can be wrong and thats okay, however, it is critical to
try and be as close to the actual demand as possible
T or F
T
, For mathemeatical calculations that include forecasting, Dt
stands for:
Estimated Forecast
Actual Demand
Estimated Demand
Actual Forecast
Actual Demand
Ft:
previous period's forecast
𝝰:
a soothing constant
Dt:
previous period's actual demand
Ft+1:
New forecasting
Month Y1 Y2 Y3
Jan 6400 6200 6500
Feb 5800 6100 5400
Mar 7100 6800 7200
Avg For Y: 6300. 6500. 6700
