QUIZ8-11 - QUIZ 8 1. Consider the followi Consider the...

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Unformatted text preview: QUIZ 8 1. Consider the followi Consider the following demand. Jan, 10,000; Feb, 12,000; Mar, 24,000; Apr, 8,000; May, 14,000. What is the 4- month moving average forecast for June? Student Response Value Correct Answer Feedback A. 14,500 100% B. Not enough information is given to answer the question. C. 14,000 D. 15,333 E. 13,500 Score: 1/1 2. Error Measures 1 Which of the following is a basis for setting the safety stock? Student Response Value Correct Answer Feedback A. MSE 100% Correct B. CFE C. Bias D. MAD E. CFE Score: 1/1 3. Forecasting Problem 7 Steves Steak House uses exponential smoothing with trend (alpha = .10 and beta = .40) to forecast its weekly demand for chopped steak in the metro area. Average sales have been 1000 steaks per week, and the recent trend has been an increase of 20 steaks per week. Actual demand last week was for 1040 steaks. What should the forecast be for this week? Student Response Value Correct Answer Feedback A. 2201.1 B. 1544.4 C. 1042.8 D. 23 0% Incorrect, See p. 269 E. 980.2 Score: 0/1 4. Forecasting Problem 8-x A local cigar shop has discovered that their demand for Romeo y Julietas (measured in units) is related not only to their own advertising expenditures in the prior month, but also to the demand for the Cigar Afficionado magazine, and the quantity of La Gloria Cubana cigars sold. Demand = 194 + (0.218*advertising expenditures) - (0.073*cigar afficinado sales) + (0.219*la gloria sales) What is the forecast for October, given advertising expenditures of 5000, magazine (Cigar Afficionado) sales of 3000, and La Gloria sales of 1000 in September? Student Response Value Correct Answer Feedback A. 390 B. 4433 0% Incorrect. C. 1284 D. 3214 E. 9876 Score: 0/1 5. Given the following Given the following data: Period 1 Demand = 7; Period 2 Demand = 9. Use exponential smoothing alpha=0.2 to develop a demand forecast for period 3. Assume the forecast for the initial period is 5. What is the forecast? Student Response Value Correct Answer Feedback A. 5.00 0% See page 267 B. 9.48 C. 9.00 D. 6.12 E. 3.72 Score: 0/1 6. In exponential smoot In exponential smoothing, what values can the smoothing constant, , have? Student Response Value Correct Answer Feedback A. B. C. 0% See page 267 D. E. Score: 0/1 7. In linear regression In linear regression, what are we trying to forecast? In linear regression, what are we trying to forecast?...
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QUIZ8-11 - QUIZ 8 1. Consider the followi Consider the...

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