Practice questions 89. The mean absolute deviation (MAD) is O a technique for de

Question

Practice questions 89. The mean absolute deviation (MAD) is O a technique for determining current demand. O an input into time series analysis. O a technique for measuring forecast errors. O a short-term forecasting technique 30 use historical demand data to predict future demand. O Qualitative forecasting methods O Intuitive forecasting methods O Time series methods O Causal forecasting methods 91. In exponential smoothing forecasts, the smoothing constant, alpha, is between zero and one. between one and two. O greater than two. none of these choices 92. A pattern is an up or down repetitive movement in demand that occurs in a periodic fashion O variable O seasonal O trend O cycle

Explanation / Answer

Answers:

1. A technique for measuring forecasting errors

Explanation:

Errors can be forecasted only when there is a deviation from its mean.Deviation the term itself means moving away from the absolute that is called as an error

2. Time series methods

Explanation:

This consists of series of data collected over a period of time.So with the pattern of demand that occured over a period we can predict the future demand

3. Between zero and one

Explanation:

Alpha is the weight that you assign to the most recent observation in your time series and it defines the weighting.Alpha is set to zero then it sets the current smoothed point to the previous smoothed value and if alpha is set to 1 then it sets the current smoothed point to current point

4.seasonal pattern

Explanation:

The season specifies the short term period of time .The demand that occurs in a repetitive fashion in this short specified period in a particular season

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