Qz: Ch 4

Forecasts may be influenced by a? product's position in its life cycle

True

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?

yesterday's forecasted attendance and? yesterday's actual attendance

As compared to? long-range forecasts,? short-range forecasts

deal with less comprehensive issues supporting management decisions

One use of? short-range forecasts is to? determine

job assignments

Forecasts are usually classified by time horizon into which three? categories?

?short-range, medium-range, and? long-range

The three major types of forecasts used by organizations in planning future operations? are

?economic, technological, and demand

Which of the following most requires? long-range forecasting? (as opposed to? short-range or? medium-range forecasting) for its planning? purposes?

capital expenditures

Short-range forecasts tends to ________ longer-range forecasts.

be more accurate than

What forecasting systems combine the intelligence of multiple supply chain? partners?

CPFR

Forecasts of individual products tend to be more accurate than forecasts of product families

False

A? time-series model uses a series of past data points to make the forecast

True

The quarterly? "make meeting" of Lexus dealers is an example of a sales force composite forecast

True

One advantage of exponential smoothing is the limited amount of record keeping involved.

true

The larger the number of periods in the simple moving average forecasting? method, the greater the? method's responsiveness to changes in demand

False

In trend? projection, the trend component is the slope of the regression equation

True

In trend? projection, a negative regression slope is mathematically impossible

False

A trend projection equation with a slope of 0.78 means that there is a 0.78 unit rise in Y per period

true

What is the forecast for May using a? four-month moving? average?
Nov. Dec. Jan. Feb. Mar. April
39 36 40 42 48 46

44

Given an actual demand this period of? 103, a forecast value for this period of? 99, and an alpha of? 0.4, what is the exponential smoothing forecast for next? period?

100.6