Practice Questions Forecasting

Practice Questions Forecasting - Practice Questions...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Practice Questions – Forecasting 1. Which would you rather use for a short to medium term forecast? a. Moving average b. Delphi Ans. a (Delphi is for the long term - remember past data cannot be stretched too much into the future, so methods such as regression and moving averages should not be used for long term forecasting)) 2. My client likes an easily understood and a relatively useful measure of forecasting error. Which one would you choose? a. MAPE b. MSE c. CFE Ans. a (states error as a % of actual demand) 3. What’s r-square? Ans. The proportion of variance explained in the dependent variable by all the independent variables combined. 4. Abnormally heavy rains (now stopped) in Mexico caused a spike in sales of waterproofing materials. If the company uses an exponential smoothing model for forecasting sales for the product, what should you do to make your forecast more accurate? F
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

Practice Questions Forecasting - Practice Questions...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online