$($nc$)$ Niagara College

E TORONTO

Q$14$: Which type of forecast is used to predict sales of existing products and services Canada

a Economic forecast

b Demand forecast

c Technological forecast

d All of these

Q$15$: The last step of forecasting is

a Select the items to be forecasted

b Validate and implement the results

c Make the forecast

d Select the forecasting model

Q$16$: Which of these is not true about qualitative method of forecasting

a Used when situation is vague and little data exist

b Involves intuition, experience

c Used for new products

d Used for Existing products

Q$17$: In which of this qualitative method of forecasting, a panel of experts is queried iteratively until consensus is reached?

a Jury of executive opinion

b Delphi technique

c Market Survey

d None of these

Q$18$: Which of these is a quantitative approach of forecasting?

a Naive approach

$b,$ Trend Projection

c Moving averages

d All of these

Q$19$:

a

$q,$

b Naive approach

c Delphi technique Assumes demand in next period is the same as demand in most recent period

d Weighted Moving average

Q$20$: Which of the following best describes the Mean Absolute Deviation $($MAD$)?$

b$.$ The average of the squared differences between each data point and the mean.

b$.$ The average of the absolute differences between each data point and the mean.

d$.$ The difference between the maximum and minimum values in a data set. The square root of the average squared differences between each data point and the mean.