FORECASTING QUIZ

FORECASTING QUIZ - a. Both tend to lag changes in a time...

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FORECASTING NAME:_______________________________________ MGMT 320 – FALL 2010 – 9/27/10 Multiple Choice 1. Which of the following forecasting techniques is most appropriate for generating forecasts in the presence of a distinct trend? a. Delphi method b. Weighted Moving average c. Moving averages d. Single factor exponential smoothing e. Double exponential smoothing 2. What is the MAD for forecast errors of +4, -2, +1, -1? a. 0.00 b. 0.50 c. 1.00 d. 1.50 e. 2.00 3. Which one of these is not an element of a good forecast? a. Low cost
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b. In writing c. Meaningful units d. Timely e. Measure of accuracy 4. Select the statement about moving averages and exponential smoothing that is NOT true.
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Unformatted text preview: a. Both tend to lag changes in a time series b. Both smooth data c. Both involve fairly simple calculations d. Both can be used to obtain seasonal index numbers e. Both are easy to interpret 5. The cumulative forecast error is important for determining the: a. Mean squared error b. Bias in forecast error c. The trend equation d. Mean absolute percent deviation e. Control limits 6. Which of the following alpha values would cause a simple exponential smoothing forecast to respond to previous forecasting errors the quickest? a. b. 0.01 c. 0.10 d. 0.20 e. 0.30...
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FORECASTING QUIZ - a. Both tend to lag changes in a time...

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