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Multiple Choice Quiz
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1
The minimum planning horizon is determined by:
A)The longest lead time associated with resources that must be obtained to complete the plan
B)The lead time of the shortest resources the company uses
C)The product life cycle
D)The length of the decline stage of the life cycle
2
Which of the following is probably the best way to increase forecast accuracy?
A)Eliminating causal information
B)Expanding the seasonal impact
C)Shortening the planning horizon
D)Adopting a more mathematically complex model
3
Time series forecasting:
A)Uses the demand for another product its basis
B)Uses past demand to predict future demand
C)Is more accurate than causal forecasting
D)Is rarely wrong
4
When demand repeats a pattern at least once a year, it is known as:
A)A seasonal pattern
B)A trend
C)A cycle
D)Random fluctuation
5
The degree to which a forecast reacts to changes in demand is known as:
A)Forecast error
B)Responsiveness
C)Bias
D)Absolute error
6
When simple exponential smoothing is used, the larger the value of alpha:
A)The greater the bias
B)The more weight on the seasonal component of the time series
C)The more weight on the most recent demand
D)The less the bias
7
A seasonal index can be computed by:
A)Adding together all MAD values
B)Dividing the bias by the forecast error
C)Adding together the absolute values of the errors
D)Dividing the demand for a period by the average demand over all periods
8
Which of the following measures bias?
A)MAD
B)MSE
C)Actual demand—forecast demand
D)RSFE
9
In general, the farther into the future one forecasts:
A)The more accurate the forecast will be
B)The more biased the forecast will be
C)The greater the forecast error
D)The greater the random fluctuation of demand
10
A characteristic common to all enterprise resource planning systems is:
A)Activity based costing
B)A unified data base
C)Adaptive smoothing forecasts
D)Trend adjusted exponential smoothing





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