Chap4_MC_Questions&Answers

Chap4_MC_Questions&Answers - Chapter4 Multiple...

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1 Chapter4: Multiple Choice Questions 1. Forecasts a. become more accurate with longer time horizons b. are rarely perfect c. are more accurate for individual items than for groups of items d. all of the above e. none of the above 2. One purpose of short-range forecasts is to determine 3. Forecasts are usually classified by time horizon into three categories a. short-range, medium-range, and long-range b. finance/accounting, marketing, and operations c. strategic, tactical, and operational d. exponential smoothing, regression, and time series e. departmental, organizational, and industrial 4. A forecast with a time horizon of about 3 months to 3 years is typically called a 5. Forecasts used for new product planning, capital expenditures, facility location or expansion, and R&D typically utilize a 6. The three major types of forecasts used by business organizations are a. strategic, tactical, and operational b. economic, technological, and demand c. exponential smoothing, Delphi, and regression d. causal, time-series, and seasonal e. departmental, organizational, and territorial 7. Which of the following is not a step in the forecasting process?
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