Top of Form
Question 1
A company wants
to forecast demand using the simple moving average. If the company uses three
prior yearly sales values (i.e., year 2013 = 130, year 2014 = 110, and year
2015 = 160), which of the following is the simple moving average forecast for
year 2016?
Question 2
A company wants to
forecast demand using the simple moving average. If the company uses four prior
yearly sales values (i.e., year 2012= 100, year 2013 = 120, year 2014 = 140,
and year 2015 = 210), which of the following is the simple moving average
forecast for year 2016?
Question 3
A company wants
to forecast demand using the weighted moving average. If the company uses three
prior yearly sales values (i.e., year 2013 = 160, year 2014 = 140, and year
2015 = 170), and we want to weight year 2013 at 30 percent, year 2014 at 30
percent, and year 2015 at 40 percent, which of the following is the weighted
moving average forecast for year 2016?
Question 4
Given an actual demand of 59, a previous forecast of
64, and an alpha of .3, what would the forecast for the next period be using
simple exponential smoothing?
Question 5
Given an actual demand of 105, a forecasted value of
97, and an alpha of .4, the simple exponential smoothing forecast for the next
period would be:
Question 6
Question text
A company wants
to generate a forecast for unit demand for year 2016 using exponential
smoothing. The actual demand in year 2015 was 120. The forecast demand in year
2015 was 110. Using these data and a smoothing constant alpha of 0.1, which of
the following is the resulting year 2016 forecast value?
Question 7
Question text
If the intercept
value of a linear regression model is 40, the slope value is 40, and the value
of X is 40, which of the following is the resulting forecast value using
this model?
Question 8
A company hires
you to develop a linear regression forecasting model. Based on the company’s
historical sales information, you determine the intercept value of the model to
be 1,200. You also find the slope value is minus 50. If, after developing the
model, you are given a value of X = 10, which of the following is the
resulting forecast value using this model?
Question 9
An
insurance company has experienced considerable growth in the last several
months. The manager of the company monitors the number of monthly policies sold
for the past several months. The scatter plot of polices sold is shown below.
What is the forecast for period 12?
Question 10
The
table shows quarterly grain shipment for a farming cooperative. The
regression line (liner equation) for the deseasonalized values is Y = 3.55x
+ 229. Rounded to two decimal places, what is the forecast for
Quarter I, Year 6?
Question 11
Correct
Question text
The
table shows quarterly grain shipment for a farming cooperative. The
regression line (liner equation) for the deseasonalized values is Y = 3.55x
+ 229. Rounded to two decimal places, what is the forecast for
Quarter II, Year 6?
Question 12
The
table shows quarterly grain shipment for a farming cooperative. The
regression line (liner equation) for the deseasonalized values is Y = 3.55x
+ 229. Rounded to two decimal places, what is the forecast for
Quarter III, Year 6?
Question 13
The
table shows quarterly grain shipment for a farming cooperative. The
regression line (liner equation) for the deseasonalized values is Y = 3.55x
+ 229. Rounded to two decimal places, what is the forecast for
Quarter IV, Year 6?
Question 14
The mean absolute deviation (MAD) is used to:
Question 15
Given forecast errors of – 5, – 10, and +15, the MAD
is:
Select one:
Question 16
If you were
selecting from a variety of forecasting models based on MAD, which of the
following MAD values from the same data would reflect the most accurate
model?
Question 17
The table below shows the bread deliveries for a bakery and
different forecasting methods.What is the Mean Absolute Deviation
(MAD) for Simple Moving Average (MA3) forecast?
Question 18
The table below shows the bread deliveries for a bakery and
different forecasting methods.What
is the Mean Absolute Deviation (MAD) for Weighted Average forecast?
Question 19
The table below shows the bread deliveries for a bakery and
different forecasting methods.What
is the Mean Absolute Deviation (MAD) for Exponential Smoothing forecast?
Question 20
Below is the Individual and Moving Range (ImR or XmR) control
chart for monthly sales for a company. Based on the examination of the sales
process, what type of variation is present?
Question 21
Below is the Individual and Moving Range (ImR or XmR) control
chart for monthly sales for a company. Based on the examination of the sales
process, what is the state of the process?
Question 22
Below is the Individual and Moving Range (ImR or XmR) control
chart for monthly sales for a company. Based on the examination of the sales
process the manager is asking you to explain the reduction in sales (change in
variation) in months 23 and 24. What type of mistake is the manager
committing?
Question 23
Below is the Individual and Moving Range (ImR or XmR) control
chart for monthly sales for a company. Based on the examination of the sales
process, you can forecast the sales in the near future as:
Question 24
Below is the Individual and Moving Range (ImR or XmR) control
chart for monthly sales for a company. Based on the examination of the sales
process, a special cause (signal) can be detected by a value:
Question 25
In
the description of control charts in this course, the control limits are set
at:
