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 a. production planning b. inventory budgets c. research and development plans d. facility location e. job assignments 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 a. long-range forecast b. medium-range forecast c. short-range forecast d. weather forecast e. strategic forecast 5. Forecasts used for new product planning, capital expenditures, facility location or expansion, and R&D typically utilize a a. short-range time horizon b. medium-range time horizon c. long-range time horizon d. naive method, because there is no data history e. all of the above 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? a. determine the use of the forecast b. eliminate any assumptions c. determine the time horizon d. select a forecasting model(s) e. validate and implement the results
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2 8. The two general approaches to forecasting are a. qualitative and quantitative b. mathematical and statistical c. judgmental and qualitative d. historical and associative e. judgmental and associative 9. Which of the following uses three types of participants: decision makers, staff personnel, and respondents? a. executive opinions b. sales force composites c. the Delphi method d. consumer surveys e. time series analysis 10. Which of the following is not a type of qualitative forecasting? a. executive opinions
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This note was uploaded on 04/14/2011 for the course BUSSINESS 16.391 taught by Professor Micial during the Spring '11 term at Brandon.

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Chap4_MC_Questions&Answers - Chapter4 Multiple...

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