Question $12(1$ point$)$

Forecasts can help a manager to do all of the following EXCEPT:

Question $12$ options:

reduce uncertainty in planning.

design the system.

schedule the short$-$term use of the system.

predict the future precisely.

Question $13(1$ point$)$

In operations, Forecasts are used for all of the following operations$-$related decisions EXCEPT:

Question $13$ options:

capacity planning.

outsourcing.

inventory planning.

pricing and promotion.

Question $14(1$ point$)$

Which of the following is NOT a step in the forecasting process?

Question $14$ options:

Eliminate any assumptions and rely solely on verifiable factual data.

Establish a forecasting horizon.

Select a forecasting technique.

Monitor the forecast.

Question $15(1$ point$)$

Which of the following is NOT a requirement of a properly prepared forecast?

Question $15$ options:

Timely

Accurate

Reliable

Complex

Question $16(1$ point$)$

Which of the following is NOT a type of judgmental forecasting?

Question $16$ options:

Executive opinions

Sales force opinions

Consumer surveys

Time series analysis

Question $17(1$ point$)$

Which of the following would be an advantage of using opinions of a sales force to develop a demand forecast?

Question $17$ options:

The sales staff is least affected by changing customer needs.

The sales staff is often aware of customers' future plans.

Salespeople are least likely to be influenced by recent events.

Salespeople are least likely to be biased by sales quotas.

Question $18(1$ point$)$

Persistent upward or downward movement in time series data is called:

Question $18$ options:

seasonal variation.

cycles.

irregular variation.

trend.

Question $19(1$ point$)$

The primary difference between seasonality and cycles is:

Question $19$ options:

the duration of the repeating patterns.

the magnitude of the variation.

the ability to attribute the pattern to a cause.

the predictability of the pattern.

Question $20(1$ point$)$

Averaging forecasting techniques are useful for:

Question $20$ options:

distinguishing between random and non$-$random variations.

forecasting cyclical time series.

smoothing out fluctuations in data.

forecasting seasonal indexes.

Question $21(1$ point$)$

Which of the following is NOT a characteristic of the na$$ve forecasting method?

Question $21$ options:

It is quick and easy to prepare.

It is easy for users to understand.

It smooths out random variations in the data.

It has virtually no cost$.$

Question $22(1$ point$)$

Which is NOT a characteristic of exponential smoothing?

Question $22$ options:

Smooths random variations in the data

Weights each historical value equally

Incorporates past forecast error

Widely used

Question $23(1$ point$)$

Which of the following smoothing constants would make an exponential smoothing forecast equivalent to a na$$ve forecast?

Question $23$ options:

$0$

$\mathrm{.}01$

$100$

$5$

$1\mathrm{.}0$

Question $24(1$ point$)$

Which of the following is NOT an accurate statement concerning bias in forecasts?

Question $24$ options:

Bias is calculated based on the mean absolute percent error $($MAPE$).$

Bias is the sum of forecast errors.

Persistent positive bias implies frequently underestimating actual values.

Bias may indicate a shift in the demand pattern.

Question $25(1$ point$)$

Which of the following is a key question in capacity planning?

Question $25$ options:

Where do we need the capacity?

When do we need the capacity?

Who will pay for the capacity change?

Should we change capacity all at once, or through several small changes?