Question 1

Which of the following is not an example of forecasts being used in a business organization?

Accepted Answer

A)  how the organization should be structured
B)  equipment replacement needs
C)  timing and amount of funding needs
D)  hiring activities
E)  pricing and promotion

Question 2

A concert promoter is forecasting this year's attendance for one of his concerts based on the following historical data:

What is this year's forecast using exponential smoothing with alpha = 0.2, if last year's smoothed forecast was 15,000?

Accepted Answer

A)  20,000
B)  19,000
C)  17,500
D)  16,000
E)  15,000

Question 3

Which of the following features would not generally be considered common to all forecasts?

Accepted Answer

A)  Assumption of a stable underlying causal system.
B)  Actual results will differ somewhat from predicted values.
C)  Historical data is available on which to base the forecast.
D)  Forecasts for groups of items tend to be more accurate than forecasts for individual items.
E)  Accuracy decreases as the time horizon increases.

Question 4

A forecast method is generally deemed to perform adequately when the errors exhibit an identifiable pattern.

Accepted Answer

A) True 
 B)False

Exam 3: Forecasting

A forecast method is generally deemed to perform adequately when the errors exhibit an identifiable pattern.

Correct Answer
verified

Which of the following features would not generally be considered common to all forecasts?

Correct Answer
verified

Which of the following is not an example of forecasts being used in a business organization?

Correct Answer
verified

A concert promoter is forecasting this year's attendance for one of his concerts based on the following historical data: What is this year's forecast using exponential smoothing with alpha = 0.2, if last year's smoothed forecast was 15,000?

Correct Answer
verified

Exam 3: Forecasting

A forecast method is generally deemed to perform adequately when the errors exhibit an identifiable pattern.

Correct AnswerverifiedShow Answer

Which of the following features would not generally be considered common to all forecasts?

Correct AnswerverifiedShow Answer

Which of the following is not an example of forecasts being used in a business organization?

Correct AnswerverifiedShow Answer

A concert promoter is forecasting this year's attendance for one of his concerts based on the following historical data: What is this year's forecast using exponential smoothing with alpha = 0.2, if last year's smoothed forecast was 15,000?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified