Please answer the following questions.

1		Which of the following forecasting techniques generates trend forecasts?
			A)	Delphi method
			B)	Weighted moving average
			C)	Moving averages
			D)	Single exponential smoothing
			E)	None of the above
2		What is the MAD for forecast errors of +4, -2, +1, -1?
			A)	0.00
			B)	0.50
			C)	1.00
			D)	1.50
			E)	2.00
3		Which one of these is not an element of a good forecast?
			A)	low cost
			B)	in writing
			C)	meaningful units
			D)	timely
			E)	measure of accuracy
4		Select the statement about moving averages and exponential smoothing that is not true.
			A)	Both tend to lag changes in a time series.
			B)	Both smooth data.
			C)	Both involve fairly simple calculations.
			D)	Both can be used obtain seasonal index numbers.
			E)	Both are easy to interpret.
5		Data that have large variation will result in:
			A)	a low MAD but a high MSE.
			B)	a high MAD but a low MSE.
			C)	a high MAD and a high MSE.
			D)	a low MAD and a low MSE.
			E)	an equal MAD and MSE.
6		The cumulative forecast error is important for determining the:
			A)	Mean squared error.
			B)	Bias in forecast error.
			C)	Mean absolute deviation.
			D)	Control limits.
7		Of these values, the value of that would track the data most closely is:
			A)	0
			B)	.01
			C)	.10
			D)	.20
			E)	.30