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Assessment 2
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The forecasting time horizon that would typically be easiest to predict for would be the
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medium-range.
intermediate range.
short-range.
long-range.
A forecast that projects a company's sales is called
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economic forecast.
technological forecast.
demand forecast.
weather forecast.
Quantitative methods of forecasting include
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jury of executive opinion.
exponential smoothing.
consumer market survey.
sales force composite.
Time series patterns that repeat themselves after a period of days or weeks are called
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trend.
seasonality.
cycles.
random variation.
Clear selection
The forecasting method that is appropriate when the time series has no significant trend, cyclical, or seasonal effect is
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adjusted exponential smoothing.
moving average.
qualitative forecasting method.
seasonal forecasting method.
The method that considers several variables that are related to the variable being predicted is
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exponential smoothing.
moving average.
multiple regression.
none of the above.
Decomposing a time series refers to breaking down past data into the components of
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strategy, tactical, and operational variations.
constants and variations.
long-term, short-term, and medium-term variations.
trends, cycles, seasonal and random variations.
If demand is 105 during January, 119 in February, 133 in March, and 141 in April, what is the 3-month simple moving average for May?
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142
125
131
133
Given last period's forecast of 64, and last period's demand of 60, what is the simple exponential smoothing forecast with an alpha of 0.4 for the next period?
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65
62.4
63.5
61
The measure of forecast error which calculates the average forecast error over n time periods known as
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mean absolute percentage error.
mean-square error.
mean error.
mean absolute deviation.
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