The weighted moving average method is good for forecasting sales/demand of produ

Question

The weighted moving average method is good for forecasting sales/demand of products that have _____ patterns.

Select one:

a. trend

b. both trend and seasonal

c. neither trend nor seasonal

d. seasonal

A higher value for alpha in the exponential smoothing method results in _____.

Select one:

a. a greater emphasis on the current month's actual sales/demand

b. a greater emphasis on the previous month's actual sales/demand

c. a greater emphasis on the previous month's forecasted sales/demand

d. a greater emphasis on both the actual and forecasted sales/demand for the previous month

Qualitative forecasting techniques should be applied in situations where time series data exists, but where conditions are expected to change.

Select one:

True

False

Using exponential smoothing, the demand forecast for time period 10 equals the demand forecast for time period 9 plus

Select one:

a. a times (the error in the demand forecast for time period 9)

b. a times (the demand forecast for time period 9)

c. a times (the demand forecast for time period 8)

d. a times (the observed demand in time period 9)

Which of the following about alpha is true?

Select one:

a. Alpha is a number between 0 and 100

b. alpha can be any number, including negative numbers

c. alpha is a number between 0 and 1

d. alpha is a number between -1 and 1

With fewer periods in a moving average, it will take longer to adjust to a new level of data values.

Select one:

True

False

A four-period moving average forecast for period 10 would be found by averaging the values from periods 10, 9, 8, and 7.

Select one:

True

False

Explanation / Answer

The weighted moving average method is good for forecasting sales/demand of products that have _____ patterns.

Ans: a. trend

A higher value for alpha in the exponential smoothing method results in _____.

Ans: b. a greater emphasis on the previous month's actual sales/demand

Qualitative forecasting techniques should be applied in situations where time series data exists, but where conditions are expected to change.

Ans: True

Using exponential smoothing, the demand forecast for time period 10 equals the demand forecast for time period 9 plus

Ans: a. a times (the error in the demand forecast for time period 9)

Which of the following about alpha is true?

Ans: c. alpha is a number between 0 and 1

With fewer periods in a moving average, it will take longer to adjust to a new level of data values.

Ans: False

A four-period moving average forecast for period 10 would be found by averaging the values from periods 10, 9, 8, and 7.

Ans: False

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