Complete the following 10 multiple choice questions

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QUESTION 1

  1. The ____________ is more sensitive to large deviations than the mean square error.
    A. seasonal variation
    B. the mean absolute deviation
    C. mean square error
    D. the seasonable factor

4 points

QUESTION 2

  1. The mean absolute deviation is the sum of the absolute value of forecasting errors divided by the number of _________.
    A. forecasts
    B. strategies
    C. forecasting errors
    D. All of the above

4 points

QUESTION 3

  1. Using the latest value in a sequence of data to forecast the next period is:
    A. a moving-average forecast
    B. a last-value forecast
    C. a casual forecast
    D. an exponentially smoothed forecast

4 points

QUESTION 4

  1. Given forecast errors of 8, 10, and 9, what is the mean absolute deviation?
    A. 2/3
    B. 1/3
    C. 1
    D. 0

4 points

QUESTION 5

  1. Given forecast errors of 3, 6, and 9, what is the mean square error?
    A. 5
    B. 6
    C. 7
    D. 8

4 points

QUESTION 6

  1. Refer to the following data:

    Period Demand
    1 23
    2 23
    3 45
    4 72What is the last-value forecast for the next period?

    A. 23
    B. 72
    C. 73
    D. 61

4 points

QUESTION 7

  1. Refer to the following data:
    Period Demand
    1 12
    2 13
    3 14
    4 15What is the moving-average forecast for the next period based on the last three periods
    A. 12
    B. 13
    C. 14
    D. 15

4 points

QUESTION 8

  1. Time-series data may exhibit which of the following behaviors?
    A. Trend
    B. Seasonality
    C. Cycles
    D. All of the above

4 points

QUESTION 9

  1. In business, forecasts are the basis for __________
    A. sales
    B. budgeting
    C. production
    D. all of the above

4 points

QUESTION 10

  1. The averaging method uses _______ data points in the time-series.
    A. partial
    B. all the
    C. 20% of the
    D. All of the above