Homework answers / question archive / Saudi Electronic University MGT 530 Forecasting-qualitative vs

Saudi Electronic University MGT 530 Forecasting-qualitative vs

Management

Share With

---

Saudi Electronic University

MGT 530

Forecasting-qualitative vs. quantitative

1)When choosing a forecasting technique, a critical trade-off that must be considered is that between:

A.            time series and associative.

B.            seasonality and cyclicality.

C.            length and duration.

D.            simplicity and complexity.

E.            cost and accuracy.

 

2. Which of the following features would not generally be considered common to all forecasts?

A.            Assumption of a stable underlying causal system.

B.            Actual results will differ somewhat from predicted values.

C.            Historical data is available on which to base the forecast.

D.            Forecasts for groups of items tend to be more accurate than forecasts for individual items.

E.            Accuracy decreases as the time horizon increases.

 

3. Which of the following is not a step in the forecasting process?

A.            Determine the purpose and level of detail required.

B.            Eliminate all assumptions.

C.            Establish a time horizon.

D.            Select a forecasting model.

E.            Monitor the forecast.

 

4. The two general approaches to forecasting are:

A.            mathematical and statistical.

B.            qualitative and quantitative.

C.            judgmental and qualitative.

 

D.            historical and associative.

E.            precise and approximation.

 

5. Accuracy in forecasting can be measured by:

A.            MSE.

B.            MRP.

C.            MPS.

D.            MTM.

E.            MTE.

 

6. The forecasting method which uses anonymous questionnaires to achieve a consensus forecast is:

A.            sales force opinions.

B.            consumer surveys.

C.            the Delphi method.

D.            time series analysis.

E.            executive opinions.

 

7. One reason for using the Delphi method in forecasting is to:

A.            avoid premature consensus (bandwagon effect).

B.            achieve a high degree of accuracy.

C.            maintain accountability and responsibility.

D.            be able to replicate results.

E.            prevent hurt feelings.

 

8. The primary method for associative forecasting is:

A.            sensitivity analysis.

B.            regression analysis.

C.            simple moving averages.

D.            centered moving averages.

E.            exponential smoothing.

 

9. Which term most closely relates to associative forecasting techniques?

A.            time series data

B.            expert opinions

C.            Delphi technique

D.            consumer survey

E.            predictor variables

 

10. The degree of management involvement in short-range forecasts is:

A.            none.

B.            low.

C.            moderate.

D.            high.

E.            total.

 

11. Forecasting techniques generally assume:

A.            the absence of randomness.

B.            continuity of some underlying causal system.

C.            a linear relationship between time and demand.

D.            accuracy that increases the farther out in time the forecast projects.

E.            accuracy that is better when individual items, rather than groups of items, are being considered.

 

12. A managerial approach toward forecasting which seeks to actively influence demand is:

A.            reactive.

B.            proactive.

C.            influential.

D.            protracted.

 

E.            retroactive.

 

13. Which of the following helps improve supply chain forecasting performance?

A.            contracts that require supply chain members to formulate long-term forecasts

B.            penalties for supply chain members that adjust forecasts

C.            sharing forecasts or demand data across the supply chain

D.            increasing lead times for critical supply chain members

E.            increasing the number of suppliers at critical junctures in the supply chain

 

14. Which of the following would tend to decrease forecast accuracy?

A.            a reduction in demand variability

B.            a shortening of the forecast time horizon

C.            an attempt to forecast demand for a group of similar items rather than an individual item

D.            a change in the underlying causal system

 

15. Forecasts based on judgment and opinion do not include:

A.            executive opinion.

B.            salesperson opinion.

C.            second opinions.

D.            customer surveys.

E.            Delphi methods.

 

16. Which of the following features would not generally be considered common to all forecasts?

A.            Assumption of a stable underlying causal system.

B.            Actual results will differ somewhat from predicted values.

C.            Historical data is available on which to base the forecast.

D.            Forecasts for groups of items tend to be more accurate than forecasts for individual items.

E.            Accuracy decreases as the time horizon increases.

 

17. A persistent tendency for forecasts to be greater than or less than the actual values is called:

A.            bias.

B.            tracking.

C.            control charting.

D.            positive correlation.

E.            linear regression.

 

18. Which of the following is not necessarily an element of a good forecast?

A.            estimate of accuracy

B.            timeliness

C.            meaningful units

D.            low cost

E.            written

 

19. Which of the following mechanisms for enhancing profitability is most likely to result from improving short-term forecast performance?

A.            increased inventory

B.            reduced flexibility

C.            higher-quality products

D.            greater customer satisfaction

E.            greater seasonality