Question 1 (4 points)

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In class, we discussed an example which showed various components of a financial statement. Based on the discussion, which of the following will provide the lowest return for time and effort invested?

Question 1 options:

	Raw Materials
	Packaging Materials
	Direct Labor
	Overhead

Question 2 (4 points)

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Which of the following is a forecasting method which uses either days, weeks, months, quarters, or years to forecast volumes in the future.

Question 2 options:

	Time Series Models
	Qualitative Forecasting
	Associative Models
	Random Movements

Question 3 (4 points)

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Which of the following is considered a forecast which is based on personal experiences and institutional knowledge (as opposed to going through the actual calculation processes)?

Question 3 options:

	Qualitative Forecasting
	Associative Models
	Time Series Models
	Random Movements

Question 4 (4 points)

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Assume the results are MAD calculations for various models, which of the following is the worst model to use for a forecast of "Item X"?

Question 4 options:

	12.9
	15.5
	13.2
	12.1

Question 5 (4 points)

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Which of the following identifies the correct approach to calculating seasonality?

Question 5 options:

	Annual Trends-->Forecast Next Year-->Calculate Intra-Year %-->Apply % to Forecasted Period
	Calculate Intra-Year %-->Annual Trends-->Forecast Next Year-->Apply % to Forecasted Period
	Annual Trends-->Calculate Intra-Year %-->Apply % to Forecasted Period-->Forecast Next Year
	Calculate Intra-Year %-->Forecast Next Year-->Apply % to Forecasted Period-->Annual Trends