FDA 1st Opp. Nov 2018

QUESTION 1

MULTIPLE QUESTIONS; SELECT THE CORRECT ANSWER.

1.1 forecasting methods are based on judgments, opinions, intuition, emotions, or personal experiences and are subjective in nature.

a) Qualitative

b) Quantitative

c) Demand

d) All of the above [1 marks]

1.2 Which of the following is not a forecasting technique?

a) Judgmental

b) Time series

c) Time horizon

d) Associative [1 marks]

1.3 If a shopkeeper is unable to give the customer products demanded, this leads to:

a) Forecast sale

b) Lost sale

c) Kaizen

d) Wrong forecasting [1 mark]

1.4 Which of these is not a forecasting method?

a) Delphi method

b) Obsolenceses

c) Trend estimation

d) Time series [1 marks]

1.5 The role of forecasting in production and operation

a) Inventory Management

b) Historical data

c) Implementing

d) Controlling [1 mark]

1.6 Time series Methods [1 mark]

a) Discover a pattern in historical data and project it into the future.

b) Include cause-effect relationships.

c) Are useful when historical information is not available.

d) All of the alternatives are true.

1.7 Helps to set strategy for the firm to meet demand at an aggregated level usually encompasses a period of time longer than two years [1 marks]

a) Strategic forecasting

b) Tactical forecasting

c) Operation

d) All of the above.

1.8 Delphi method is used for [1 marks]

a) Judgmental forecast

b) Time series forecast

c) Associative model

d) All of the above.

1.9 Which of the following is not true for forecasting? [1 marks]

a) Forecasts are rarely perfect

b) Assume that the underlying casual system will remain the same in the future

c) Forecast for group of items is accurate than individual item

d) Short range forecasts are less accurate than long range forecasts

1.10 Which forecasting technique is a technique applied to time series data, to level out data? [1 marks]

a) Scenario analysis

b) Delphi method

c) Exponential smoothing

d) Market survey

1.11 Which forecast techniques involves experts answering questionnaires anonymously in two or more rounds until consensus is met?

a) Forecast by analogy

b) Market survey

c) Delphi method

d) Moving average [1 mark]

1.12 Which of the following is a quantitative method for sale forecasting [1 marks]

a) Jury of executive opinion

b) Delphi method

c) Regression analysis

d) Sale force opinion

1.13 is the science of examining raw data with the purpose of drawing conclusions about that information

a) Regression

b) Time series

c) Demand forecasting

d) Data analytic [1 marks]

1.14 Which of the below is/are step/s of data analytics? [1 marks]

a) Capture

b) Report

c) Refine

d) All of the above.

1.15 is a technique that allows additional factors to enter the analysis separately so that the effect of each can be estimated. It is valuable for quantifying the impact of various simultaneous influences upon a single dependent variable. [1 marks]

a) Multiple regression

b) Linear Regression

c) Co efficient

d) Data Analytic