Chapter 4 SCM – Flashcards

What two numbers are contained in the daily report to the CEO of Walt Disney Parks & Resorts regarding the six Orlando Parks?

As compared to long-range forecasts, short-range forecasts

One use of short-range forecasts is to determine

The three major types of forecasts used by organizations in planning future operations are:

Which of the following most requires long-range forecasting

What forecasting systems combine the intelligence of multiple supply chain partners?

Which of the following is NOT a step in the forecasting process?

The quarterly "make meeting" of Lexus dealers is an example of a sales force composite forecast (T/F)

Which of the following uses three types of participants: decision makers, staff personnel, and respondents

The forecasting technique that pools the opinions of a group of experts or managers is known as:

Which of the following techniques uses variables such as price and promotional expenditures, which are related to product demand, to predict demand?

A naive forecast for September sales of a product would be equal to the forecast for August (T/F)

A naive forecast for September sales of a product would be equal to the sales for August (T/F)

One advantage of exponential smoothing is the limited amount of record keeping involved (T/F)

The larger the number of periods in the simple moving average forecasting method, the greater the method's responsiveness to changes in demand (T/F)

Mean squared error and exponential smoothing are two measures of the overall error of a forecasting model (T/F)

Time-series data may exhibit which of the following behaviors?

Gradual upward or downward movement of data over time is called

Which of the following is not present in a time series

The fundamental difference between cycles and seasonality is the

Which of the following statements comparing exponential smoothing to the weighted moving average technique is TRUE

Which time series model uses BOTH past forecasts and past demand data to generate a new forecast?

Which of the following is NOT a characteristic of exponential smoothing?

A forecast based on the previous forecast plus a percentage of the forecast error is a

Yamaha manufactures which set of products with complementary demands to address seasonal variations?

Which of the following is TRUE regarding the two smoothing constants of the Forecast Including Trend (FIT) model?

______ expresses the error as a percent of the actual values

If Brandon Edward were working to develop a forecast using a moving averages approach, but he notices a detectable trend in the historical data, he should:

In a regression equation where y-hat is demand and x is advertising, a coefficient of determination (R^2) of .7 means that 70% of the variance in advertising is explained by demand (T/F)

Regression lines graphically depict "cause-and-effect" relationships (T/F)

A fundamental distinction between trend projection and linear regression is that:

Regression lines graphically depict "cause-and-effect" relationships (T/F)

The degree or strength of a relationship between two variables is shown by the

If two variables were perfectly correlated, what would the coefficient of correlation r equal

If a forecast is consistently greater than actual values, the forecast is said to be biased (T/F)

The last four weekly values of sales were 80, 100, 105, 90 units. The last four forecasts were 60, 80, 95, and 75 units. These forecasts illustrate

The tracking signal is the

Computer monitoring of tracking signals and self-adjustment if a signal passes a present limit is characteristic of:

Many services maintain records of sales noting:

Taco Bell's unique employee scheduling practices are partly the result of using