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| 1 | |
The Delphi method is a straightforward, inexpensive way to make forecasts. |
| | A) | True |
| | B) | False |
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| 2 | |
Cross-Impact analysis is interested in determining the probability of future events given the occurrence of earlier, related events. |
| | A) | True |
| | B) | False |
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| 3 | |
The diffusion curve introduced by Dell Computers, uses past absorption rates to forecast the adoption of a new product that it introduces. This is an example of a historical analogy. |
| | A) | True |
| | B) | False |
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| 4 | |
Exponential smoothing is an attractive forecasting method because it is based on the feedback concept found in control theory. |
| | A) | True |
| | B) | False |
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| 5 | |
'Exponential smoothing' and 'moving average' models are excellent for long-term forecasting. |
| | A) | True |
| | B) | False |
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| 6 | |
One of the drawbacks of the moving average model is that some past data points are ignored. |
| | A) | True |
| | B) | False |
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| 7 | |
In the Delphi method a: |
| | A) | group of experts, over the course of multiple rounds, makes short-term forecasts. |
| | B) | single expert, over the course of a single round, makes long-term forecasts. |
| | C) | single expert, over the course of multiple rounds, makes long-term forecasts. |
| | D) | group of experts, over the course of multiple rounds, makes long-term forecasts. |
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| 8 | |
Assume that the regression equation for the amount of weight that males can bench press is: Y = 60 + 12.5(hours in gym/wk) + 0.18(father's bench press) - 0.29(number of health magazines read/wk). If a male spends 16 hours in the gym per week, his father could bench press 270 pounds, and he reads 2 health magazines per week, what is his bench press forecasted to be? |
| | A) | 248 lbs. |
| | B) | 292 lbs. |
| | C) | 308 lbs. |
| | D) | 309 lbs. |
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| 9 | |
The first forecast for a five period moving average would be in the: |
| | A) | First period |
| | B) | Fourth period |
| | C) | Fifth period |
| | D) | Sixth period |
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| 10 | |
In simple exponential smoothing, the smaller the α the: |
| | A) | better the forecast. |
| | B) | less weight given to recent data. |
| | C) | more weight given to recent data. |
| | D) | None of the above |
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| 11 | |
In practice, the appropriate α for a company is determined by |
| | A) | industry practice. |
| | B) | the number of observations in a moving average forecast. |
| | C) | minimizing the mean absolute deviation. |
| | D) | the volatility of the market. |
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| 12 | |
_______ is not a measure of forecast error. |
| | A) | Mean Absolute Deviation |
| | B) | Mean Squared Error |
| | C) | Mean Absolute Percentage Error |
| | D) | Mean Forecast Error |
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