Exam 2 All Chapter 18, all chapter 14,
All chapter 11
Which of the following is not one of the "number of interesting issues that arise in yield management?" -
Answer-Designing yield management programs that cannot be imitated by a competitor
Acceptance sampling is performed on goods that already exist to determine what percentage of items
conforms to specifications.
T/F? - Answer-t
A process flowchart uses which of the following symbols to represent a decision point in a flow diagram?
- Answer-Diamond
Which of the following forecasting methodologies is considered a time series forecasting technique? -
Answer-Weighted moving average
As a consultant you have been asked to generate a unit demand forecast for a product for year 2014
using exponential smoothing. The actual demand in year 2013 was 750. The forecast demand in year
2013 was 960. Using this data and a smoothing constant alpha of 0.3, which of the following is the
resulting year 2014 forecast value?
A. 766
B. 813
,C. 897
D. 1,023
E. 1,120 - Answer-C
Which of the following is a possible source of bias error in forecasting?
A. Failing to include the right variables
B. Using the wrong forecasting method
C. Employing less sophisticated analysts than necessary
D. Using incorrect data
E. Using standard deviation rather than MAD - Answer-A
Which of the following are used to describe the degree of error?
A. Weighted moving average
B. Regression
,C. Moving average
D. Forecast as a percent of actual
E. Mean absolute deviation - Answer-E
A company has actual unit demand for three consecutive years of 124, 126, and 135. The respective
forecasts for the same three years are 120, 120, and 130. Which of the following is the resulting MAD
value that can be computed from this data?
A. 1
B. 3
C. 5
D. 15
E. 123 - Answer-C
A company has actual unit demand for four consecutive years of 100, 105, 135, and 150. The respective
forecasts were 120 for all four years. Which of the following is the resulting MAD value that can be
computed from this data?
, A. 2.5
B. 10
C. 20
D. 22.5
E. 30 - Answer-C
If you were selecting from a variety of forecasting models based on MAD, which of the following MAD
values from the same data would reflect the most accurate model?
A. 0.2
B. 0.8
C. 1.0
D. 10.0
E. 100.0 - Answer-A
A company has calculated its running sum of forecast errors to be 500 and its mean absolute deviation is
exactly 35. Which of the following is the company's tracking signal?
All chapter 11
Which of the following is not one of the "number of interesting issues that arise in yield management?" -
Answer-Designing yield management programs that cannot be imitated by a competitor
Acceptance sampling is performed on goods that already exist to determine what percentage of items
conforms to specifications.
T/F? - Answer-t
A process flowchart uses which of the following symbols to represent a decision point in a flow diagram?
- Answer-Diamond
Which of the following forecasting methodologies is considered a time series forecasting technique? -
Answer-Weighted moving average
As a consultant you have been asked to generate a unit demand forecast for a product for year 2014
using exponential smoothing. The actual demand in year 2013 was 750. The forecast demand in year
2013 was 960. Using this data and a smoothing constant alpha of 0.3, which of the following is the
resulting year 2014 forecast value?
A. 766
B. 813
,C. 897
D. 1,023
E. 1,120 - Answer-C
Which of the following is a possible source of bias error in forecasting?
A. Failing to include the right variables
B. Using the wrong forecasting method
C. Employing less sophisticated analysts than necessary
D. Using incorrect data
E. Using standard deviation rather than MAD - Answer-A
Which of the following are used to describe the degree of error?
A. Weighted moving average
B. Regression
,C. Moving average
D. Forecast as a percent of actual
E. Mean absolute deviation - Answer-E
A company has actual unit demand for three consecutive years of 124, 126, and 135. The respective
forecasts for the same three years are 120, 120, and 130. Which of the following is the resulting MAD
value that can be computed from this data?
A. 1
B. 3
C. 5
D. 15
E. 123 - Answer-C
A company has actual unit demand for four consecutive years of 100, 105, 135, and 150. The respective
forecasts were 120 for all four years. Which of the following is the resulting MAD value that can be
computed from this data?
, A. 2.5
B. 10
C. 20
D. 22.5
E. 30 - Answer-C
If you were selecting from a variety of forecasting models based on MAD, which of the following MAD
values from the same data would reflect the most accurate model?
A. 0.2
B. 0.8
C. 1.0
D. 10.0
E. 100.0 - Answer-A
A company has calculated its running sum of forecast errors to be 500 and its mean absolute deviation is
exactly 35. Which of the following is the company's tracking signal?
