Operations Management

Question 1

A  naive forecast for September sales of a product would be equal to the forecast for august

Answer

true

Question 2

The forecasting time horizon and the forecasting techniques used tend to vary over the life cycle of a product

Answer

true

Question 3

Demand(sales) forecast serve as inputs to financial, marketing, and personnel planning.

Answer

true

Question 4

Forecast of individual products tend to be more accurate than forecast of product families

Answer

true

Question 5

Most forecasting models assume that there is an underlying stability in the system

Answer

true

Question 6

The sales force composite forecasting method relies on salespersons' estimate of expected sales

Answer

true

Question 7

A time series model uses a series of past data points to make the forecast

Answer

true

Question 8

The quarterly "make-meeting"  of Lexus dealers is an example of a sales force composite forecast.

Answer

true

Question 9

Cycles and random variations are both components of time series.

Answer

true

Question 10

One advantage of exponential smoothing is the limited amount of record keeping involved.

Answer

true

Question 11

The larger the number of periods in the simple moving average forecasting method, the greater the method's responsiveness to changes in demand.

Answer

true

Question 12

Forecasting including trend is an exponential smoothing technique that utilizes two smoothing constants: one for the average level of the forecast and one for its trend.

Answer

true

Question 13

Mean squared error and coefficient of correlations are two measure of the overall error of a forecasting method.

Answer

true

Question 14

In trend projection, the trend component is the slope of the regression equation.

Answer

true

Question 15

In trend projection, a negative regression slope is mathematically impossible.

Answer

true

Question 16

Seasonal indexes  adjust raw data for patterns that repeat at regular time intervals.

Answer

true

Question 17

If a quarterly seasonal index has been calculated at 1.55 for the October - December quarter, then raw data for the quarter must be multiplied by 1.55 so that the quarter can be fairly compared to other quarters.

Answer

true

Question 18

The best way to forecast a business cycle is by finding a leading variable .

Answer

true

Question 19

Linear-regression analysis is a straight line mathematical model to describe the functional relationship between independent and dependent variables.

Answer

true

Question 20

The larger the standard error of the estimate, the more accurate forecasting model.

Answer

true

Question 21

Demand cycles for individual products can be driven by product life cycles.

Answer

true

Question 22

If a forecast is consistently greater or less than actual values, the forecast is said to be biased.

Answer

true

Question 23

Focus forecasting tries a variety of computer models and selects the best one for a particular application.

Answer

true

Question 24

Many services firms use point of sales computers to collect detail records needed for accurate short-term forecast.

Answer

true

Operations Management

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