16. What is not a composent of time series? a Cyclical b. Seasonal c. Random d.

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16. What is not a composent of time series? a Cyclical b. Seasonal c. Random d. Mobility 17. Judgment forecasts uses subjective inputs such as opinions from a Consumer surveys b. Sales staff d. All of the above 18. A Simple Moving Average (SMA) forecast is generated by averaging the most recent p values in a time series. a. True b. False 19. The value of the smoothing factor, a, ranges from 0 to 1. When the value of x is close to 1, a the previous period's forecasting error has little impact on the current forecast b. the previous period's forecasting eror has no impact on the current forecast c. the previous period's forecasting error has a large effect on the current forecast. d. None of the above 20. In Weighted Moving Average method, more recent values are given more weight in computing a forecast value. a True b. False 21. The newsvendor problem is a dilemma about how much of a product should be produced when the product has a short life cycle, and the demand for it is certain. b. when the product has a longer life cycle, and the demand for it is uncertain. c. when the product has a short life cycle, and the demand for it is uncertain. d. Both b and c. 22. States of nature are the future outcomes that will occur beyond the control of the decision maker after the alternative has been chosen. a. True b. False 23. Using the maximin criterion you identify the worst payoff for each alternative and then a choose the altenative that is the "best of worse b. choose the altemative that is the "best of the best c. choose the altenative that is the "best of the worst" d. choose the alternative that is the "worst of the worst

Explanation / Answer

First question is answered below.

16. Correct option: (d) Mobility

Reason: A time series trend or variable involves a seasonal, a cyclical and a random component. There is no component of mobility.

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