Chapter 4 Test Bank Questions and
Answers Grade A+ 2023
T/F Forecasts may be influenced by a product's position in its life cycle. - -True
-T/F Demand forecasts serve as inputs to financial, marketing, and personnel planning. - -True
-What two numbers are contained in the daily report to the CEO of Walt Disney Parks &
Resorts
regarding the six Orlando parks?
A) yesterday's forecasted attendance and yesterday's actual attendance
B) yesterday's actual attendance and today's forecasted attendance
C) yesterday's forecasted attendance and today's forecasted attendance
D) yesterday's actual attendance and last year's actual attendance
E) yesterday's forecasted attendance and the year-to- date average daily forecast error - -A
-As compared to long-range forecasts, short-range forecasts:
A) are less accurate.
B) deal with less comprehensive issues supporting management decisions.
C) employ similar methodologies.
D) all of the above
E) none of the above - -B
-One use of short-range forecasts is to determine:
A) planning for new products.
B) capital expenditures.
C) research and development plans.
D) facility location.
, E) job assignments. - -E
-Forecasts are usually classified by time horizon into which three categories?
A) short-range, medium-range, and long-range
B) finance/accounting, marketing, and operations
C) strategic, tactical, and operational
D) exponential smoothing, regression, and time series
E) departmental, organizational, and industrial - -A
-A forecast with a time horizon of about 3 months to 3 years is typically called a:
A) long-range forecast.
B) medium-range forecast.
C) short-range forecast.
D) weather forecast.
E) strategic forecast. - -B
-Forecasts used for new product planning, capital expenditures, facility location or expansion,
and R&D
typically utilize a:
A) short-range time horizon.
B) medium-range time horizon.
C) long-range time horizon.
D) naive method, because there is no data history.
E) trend extrapolation. - -C
-The three major types of forecasts used by organizations in planning future operations are:
A) strategic, tactical, and operational.
B) economic, technological, and demand.
Answers Grade A+ 2023
T/F Forecasts may be influenced by a product's position in its life cycle. - -True
-T/F Demand forecasts serve as inputs to financial, marketing, and personnel planning. - -True
-What two numbers are contained in the daily report to the CEO of Walt Disney Parks &
Resorts
regarding the six Orlando parks?
A) yesterday's forecasted attendance and yesterday's actual attendance
B) yesterday's actual attendance and today's forecasted attendance
C) yesterday's forecasted attendance and today's forecasted attendance
D) yesterday's actual attendance and last year's actual attendance
E) yesterday's forecasted attendance and the year-to- date average daily forecast error - -A
-As compared to long-range forecasts, short-range forecasts:
A) are less accurate.
B) deal with less comprehensive issues supporting management decisions.
C) employ similar methodologies.
D) all of the above
E) none of the above - -B
-One use of short-range forecasts is to determine:
A) planning for new products.
B) capital expenditures.
C) research and development plans.
D) facility location.
, E) job assignments. - -E
-Forecasts are usually classified by time horizon into which three categories?
A) short-range, medium-range, and long-range
B) finance/accounting, marketing, and operations
C) strategic, tactical, and operational
D) exponential smoothing, regression, and time series
E) departmental, organizational, and industrial - -A
-A forecast with a time horizon of about 3 months to 3 years is typically called a:
A) long-range forecast.
B) medium-range forecast.
C) short-range forecast.
D) weather forecast.
E) strategic forecast. - -B
-Forecasts used for new product planning, capital expenditures, facility location or expansion,
and R&D
typically utilize a:
A) short-range time horizon.
B) medium-range time horizon.
C) long-range time horizon.
D) naive method, because there is no data history.
E) trend extrapolation. - -C
-The three major types of forecasts used by organizations in planning future operations are:
A) strategic, tactical, and operational.
B) economic, technological, and demand.
