Exam 2 Key C - EXAMINATION 2, Version C Use a Scantron Form...

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EXAMINATION 2, Version C Use a Scantron Form No. 886-E to record your choice of the best answer to each of the following questions. You have the full period to answer the questions. The following questions are worth three (3) points each . 1 Which forecasting method seeks to develop a consensus among a group of experts? a) Market research b) Executive opinion c) Delphi method d) Naïve method e) Gamma method 2. Which forecasting method assumes that next period’s forecast is equal to this period’s actual value? a) Simple mean b) Ignorant c) Basic d) Naïve e) Nescient 3. A firm has the following order history over the last 6 months. January 120 February 95 March 100 April 75 May 100 June 50 [.4(50)+.3(100)+.3(75)]=[20+30+22.5]=72.5 What would be a 3-month weighted moving average forecast for July, using weights of 40% for the most recent month, 30% for the month preceding the most recent month, and 30% for the month preceding that one? a) 75 b) 72.5 c) 50 d) 90 e) 106.5 4. Which of the following is the simplest forecasting method? a) Naïve b) Moving average c) Weighted moving average d) Trend adjusted exponential smoothing e) Linear regression 1
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5. The maximum output rate that can be achieved by a facility under ideal conditions is _________________. a) utilization b) design capacity c) effective capacity d) ultimate capacity e) temporary capacity 6. Operating a facility close to its best operating level is clearly important because a) it reduces fixed cost b) it reduces overtime requirements c) of impact on costs d) of impact on employees bonuses e) it increases production 7. Which of the following has the least to do with location analysis? a) sources of transportation
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Exam 2 Key C - EXAMINATION 2, Version C Use a Scantron Form...

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