1. A judgmental forecasting technique that uses decision makers, staff personnel, and respondent to determine a forecast is called (Points : 1)
exponential smoothing.
the Delphi method.
jury of executive opinion.
sales force composite.


Question 2.2. Which of the following statements is true about r2? (Points : 1)
It is also called the coefficient of correlation.
It is also called the coefficient of determination.
It represents the percent of variation in X that is explained by Y.
It represents the percent of variation in the error that is explained by Y.


Question 3.3. Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13, 15 (listed from oldest to most recent). Forecast sales for the next day using a two-day moving average. (Points : 1)
14
13
15
28


Question 4.4. Enrollment in a particular class for the last four semesters has been 122, 128, 100, and 155 (listed from oldest to most recent). The best forecast of enrollment next semester, based on a three-semester moving average, would be (Points : 1)
116.7.
126.3.
127.7.
135.0.


Question 5.5. Which of the following is not classified as a qualitative forecasting model? (Points : 1)
exponential smoothing
Delphi method
jury of executive opinion
sales force composite


Question 6.6. Enrollment in a particular class for the last four semesters has been 120, 126, 110, and 130. Suppose a one-semester moving average was used to forecast enrollment (this is sometimes referred to as a naïve forecast). Thus, the forecast for the second semester would be 120, for the third semester it would be 126, and for the last semester it would be 110. What would the MSE be for this situation? (Points : 1)
196.00
230.67
100.00
42.00


Question 7.7. Which of the following statements about scatter diagrams is true? (Points : 1)
Time is always plotted on the y-axis.
It can depict the relationship among three variables simultaneously.
It is helpful when forecasting with qualitative data.
The variable to be forecasted is placed on the y-axis.


Question 8.8. When is the exponential smoothing model equivalent to the naïve forecasting model? (Points : 1)
a = 0
a = 0.5
a = 1
never


Question 9.9. Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13, 15 (listed from oldest to most recent). Forecast sales for the next day using a three-day weighted moving average where the weights are 3, 1, and 1 (the highest weight is for the most recent number). (Points : 1)
12.8
13.0
70.0
14.0


Question 10.10. A time-series forecasting model in which the forecast for the next period is the actual value for the current period is the (Points : 1)
Delphi model.
naïve model.
exponential smoothing model.
weighted moving average.


Question 11.11. As one increases the number of periods used in the calculation of a moving average, (Points : 1)
greater emphasis is placed on more recent data.
less emphasis is placed on more recent data.
the emphasis placed on more recent data remains the same.
it requires a computer to automate the calculations.


Question 12.12. A graphical plot with sales on the Y axis and time on the X axis is a (Points : 1)
scatter diagram.
trend projection.
radar chart.
line graph.


Question 13.13. When both trend and seasonal components are present in time series, which of the following is most appropriate? (Points : 1)
the use of centered moving averages
the use of moving averages
the use of weighted moving averages
the use of double smoothing


Question 14.14. Which of the following statements is not true about regression models? (Points : 1)
Estimates of the slope are found from sample data.
The regression line minimizes the sum of the squared errors.
The dependent variable is the explanatory variable.
The intercept coefficient is not typically interpreted.


Question 15.15. If computing a causal linear regression model of Y = a + bX and the resultant r2 is very near zero, then one would be able to conclude that (Points : 1)
Y = a + bX is a good forecasting method.
Y = a + bX is not a good forecasting method.
a multiple linear regression model is a good forecasting method for the data.
a multiple linear regression model is not a good forecasting method for the data.


Question 16.16. Which of the following methods gives an indication of the percentage of forecast error? (Points : 1)
MAD
MSE
MAPE
decomposition


Question 17.17. Sales for boxes of Girl Scout cookies over a 4-month period were forecasted as follows: 100, 120, 115, and 123. The actual results over the 4-month period were as follows: 110, 114, 119, 115. What was the MAD of the 4-month forecast? (Points : 1)
0
5
7
108


Question 18.18. Enrollment in a particular class for the last four semesters has been 120, 126, 110, and 130 (listed from oldest to most recent). Develop a forecast of enrollment next semester using exponential smoothing with an alpha = 0.2. Assume that an initial forecast for the first semester was 120 (so the forecast and the actual were the same). (Points : 1)
118.96
121.17
130
120


Question 19.19. Which of the following statements is true regarding a scatter diagram? (Points : 1)
It provides very little information about the relationship between the regression variables.
It is a plot of the independent and dependent variables.
It is a line chart of the independent and dependent variables.
It has a value between -1 and +1.


Question 20.20. The condition of an independent variable being correlated to one or more other independent variables is referred to as (Points : 1)
multicollinearity.
statistical significance.
linearity.
nonlinearity.

 

 

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