Chapter 4 questions

Chapter 4 questions - Chapter 4 Questions True/False Questions 1 2 The forecasting time horizon and the forecasting techniques used tend to vary

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Chapter 4 Questions True/False Questions 1. The forecasting time horizon and the forecasting techniques used tend to vary over the life cycle of a product. 2. Sales forecasts are an input to financial planning, while demand forecasts impact human resource decisions. 3. Cycles and random variations are both components of time series. 4. The best way to forecast a business cycle is by finding a leading variable. 5. If a forecast is consistently greater than (or less than) actual values, the forecast is said to be biased. Multiple Choice 6. 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 7. 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
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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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Chapter 4 questions - Chapter 4 Questions True/False Questions 1 2 The forecasting time horizon and the forecasting techniques used tend to vary

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