1. Enrollment in a particular class for the last four semesters has been 122, 128, 100, and 155 (listed from oldest to most recent). The best forecast of enrollment next semester, based on a three-semester moving average, would be (Points : 1) 116.7. 126.3. 127.7. 135.0.
Question 2. 2. Which of the following is not classified as a qualitative forecasting model? (Points : 1)
exponential smoothing Delphi method jury of executive opinion sales force composite
Question 3. 3. As one increases the number of periods used in the calculation of a moving average, (Points : 1)
greater emphasis is placed on more recent data. less emphasis is placed on more recent data. the emphasis placed on more recent data remains the same. it requires a computer to automate the calculations.
Question 4. 4. The condition of an independent variable being correlated to one or more other independent variables is referred to as (Points : 1)
Question 5. 5. Which of the following statements is true about r2? (Points : 1)
It is also called the coefficient of correlation. It is also called the coefficient of determination. It represents the percent of variation in X that is explained by Y. It represents the percent of variation in the error that is explained by Y.
Question 6. 6. Which of the following methods gives an indication of the percentage of forecast error? (Points : 1)
MAD MSE MAPE decomposition
Question 7. 7. A graphical plot with sales on the Y axis and time on the X axis is a (Points : 1)
scatter diagram. trend projection. radar chart. line graph.
Question 8. 8. The coefficient of determination resulting from a particular regression analysis was 0.85. What was the correlation coefficient, assuming a positive linear relationship? (Points : 1)
0.5 -0.5 0.922 There is insufficient information to answer the question.
Question 9. 9. A judgmental forecasting technique that uses decision makers, staff personnel, and respondent to determine a forecast is called (Points : 1)
exponential smoothing. the Delphi method. jury of executive opinion. sales force composite.
Question 10. 10. Enrollment in a particular class for the last four semesters has been 120, 126, 110, and 130. Suppose a one-semester moving average was used to forecast enrollment (this is sometimes referred to as a naïve forecast). Thus, the forecast for the second semester would be 120, for the third semester it would be 126, and for the last semester it would be 110. What would the MSE be for this situation? (Points : 1)
196.00 230.67 100.00 42.00
Question 11. 11. Demand for soccer balls at a new sporting goods store is forecasted using the following regression equation: Y = 98 + 2.2X where X is the number of months that the store has been in existence. Let April be represented by X = 4. April is assumed to have a seasonality index of 1.15. What is the forecast for soccer ball demand for the month of April (rounded to the nearest integer)? (Points : 1)
123 107 100 115
Question 12. 12. The correlation coefficient resulting from a particular regression analysis was 0.25. What was the coefficient of determination? (Points : 1)
0.5 -0.5 0.0625 There is insufficient information to answer the question.
Question 13. 13. Which of the following statements is true regarding a scatter diagram? (Points : 1)
It provides very little information about the relationship between the regression variables. It is a plot of the independent and dependent variables. It is a line chart of the independent and dependent variables. It has a value between -1 and +1.
Question 14. 14. Which of the following statements about scatter diagrams is true? (Points : 1)
Time is always plotted on the y-axis. It can depict the relationship among three variables simultaneously. It is helpful when forecasting with qualitative data. The variable to be forecasted is placed on the y-axis.
Question 15. 15. Which of the following statements is not true about regression models? (Points : 1)
Estimates of the slope are found from sample data. The regression line minimizes the sum of the squared errors. The dependent variable is the explanatory variable. The intercept coefficient is not typically interpreted.
Question 16. 16. A medium-term forecast is considered to cover what length of time? (Points : 1)
2-4 weeks 1 month to 1 year 2-4 years 5-10 years
Question 17. 17. Assume that you have tried three different forecasting models. For the first, the MAD = 2.5, for the second, the MSE = 10.5, and for the third, the MAPE = 2.7. We can then say: (Points : 1)
the third method is the best. the second method is the best. methods one and three are preferable to method two. None of the above
Question 18. 18. Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13, 15 (listed from oldest to most recent). Forecast sales for the next day using a three-day weighted moving average where the weights are 3, 1, and 1 (the highest weight is for the most recent number). (Points : 1)
12.8 13.0 70.0 14.0
Question 19. 19. Which of the following is considered to be one of the components of a time series? (Points : 1)
trend seasonality cycles All of the above
Question 20. 20. When is the exponential smoothing model equivalent to the naïve forecasting model? (Points : 1)