Which of the following statements about forecasting is true in general?

Short-term forecasts are less accurate than long-term forecasts

Long-term forecasts are less accurate than short-term forecasts

Both short-term and long-term forecasts are equally accurate

Forecasts are always accurate

IncorrectQuestion 2

0 / 8 pts

In the Go Green case, how many independent variables have we considered?

4

3

1

2

IncorrectQuestion 3

0 / 8 pts

A higher number of periods in a moving average model results in

Lower noise dampening

Decreased responsiveness

Higher noise dampening

Decreased responsiveness AND higher noise dampening

Question 4

8 / 8 pts

What does MAPE stand for?

Mean additive percentage error

Mean absolute percentage error

Mean absolute predictive error

Most adaptive predictive error

Question 5

8 / 8 pts

Higher alpha values provide more accurate forecasts than lower values in an exponential.

True

False

Question 6

8 / 8 pts

In an exponential smoothing model, the alpha value lies between

0 and 200

1 and 2

0 and 1

None of these

IncorrectQuestion 7

0 / 8 pts

Which of the following is not an adaptive forecasting method?

Moving average

Exponential smoothing

Holt's model

Regression analysis

IncorrectQuestion 8

0 / 8 pts

A normal probability plot is used to test for

Normality of error terms

Normality of variance

Normality of the means

Normality of the regression function

Question 9

8 / 8 pts

Lower alpha value in an exponential smoothing model involves

Increased responsiveness

Decreased responsiveness

Lower noise dampening

Decreased responsiveness AND lower noise dampening

Question 10

8 / 8 pts

Which of the following is not a qualitative forecasting technique?

Delphi approach

Expert opinion

Time-series analysis

Customer surveys

Question 11

8 / 8 pts

Multiple regressions allow for

Multiple dependent variables and one independent variable

One independent variable and one dependent variable

One dependent variable and multiple independent variables

Multiple dependent variables and no independent variables

IncorrectQuestion 12

0 / 8 pts

In the Go Green case, if the decision maker wishes to select a single independent variable model, which one would you recommend?

X1

X2

Both X1 and X2 are equally good

Both X1 and X2 are not significant

IncorrectQuestion 13

0 / 8 pts

Forecasting plays an important role in

Strategy and design of supply chain systems

Planning of supply chain systems

Operation of supply chain systems

Strategy, design, and planning of supply chain systems

All three 1), 2), and 3)

Question 14

8 / 8 pts

If three exponential smoothing models with alpha values of 0.1, 0.3, and 0.5 resulted in mean absolute deviation values of 500, 300, 700, respectively, which is the best model?

0.3

0.1

0.5

All the three models are equally good

IncorrectQuestion 15

0 / 8 pts

Lower number of periods in a moving average model involves

Decreased responsiveness

Increased responsiveness

Higher noise dampening

Decreased responsiveness AND higher noise dampening

Question 16

8 / 8 pts

If the forecast for two consecutive periods is 1,500 and 1,400 and the actual demand is 1,200 and 1,500, then the mean absolute deviation is

500

700

200

100

Question 17

8 / 8 pts

A higher number of periods in a moving average model is similar to lower alpha value in an exponential smoothing model.

True

False

Question 18

8 / 8 pts

Adaptive models involve updating as new data comes in.

True

False

Question 19

8 / 8 pts

For the regression function (y = 24 + 3x), the definition of the slope in the context of the function is:

For a unit increase in x the y-value increases by 3

Mean value of y when x = 0

For a unit increase in y the mean value of x increases by 3

For a unit increase in x the mean value of y increases by 3

Question 20

8 / 8 pts

For the regression function (y = 24 + 3x), what is the predicted value of y for x = 20?

89

84

103

79

Question 21

8 / 8 pts

The systematic component of demand does not include

Level

Trend

Seasonality

Random fluctuation

Question 22

8 / 8 pts

In the Go Green case, which is the best model?

Y vs. X1

Y vs. X2

Y vs. X1, X2

Both Y vs. X1 AND Y vs. X1, X2

Question 23

8 / 8 pts

A decision maker has built a regression model for an independent variable range of 100 to 190. For which independent variable value would you not be able to make a prediction using this model?

120

170

110

220

Question 24

8 / 8 pts

Aggregate forecasts are more accurate than disaggregate forecasts.

True

False

Question 25

8 / 8 pts

In the presence of many independent variables, how can a decision maker drop certain variables from consideration?

By evaluating outliers

By using simple correlations

By testing all of them in the model

By using an ad hoc approach