ONE YIELD v2 Certification – Operations
Management & Forecasting Concepts –
Comprehensive Practice Questions and
Answers
Introduction:
This document contains an extensive collection of practice
questions with correct answers covering forecasting, demand
planning, statistical process control, and lean production
concepts as part of the ONE YIELD v2 Certification. It includes
calculations, multiple-choice questions, and true/false
statements focused on MAD, tracking signals, exponential
smoothing, regression, kanban systems, and lean supply chain
principles.
The material is well suited for exam preparation, revision, and
reinforcing key operations management theories and
quantitative techniques.
Exam Questions and Answers:
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?
A. Cannot be calculated based on this information
B. About 14.3
C. More than 35
D. Exactly 35
E. About 0.07 - -ANSWER:-B
A company has a MAD of 10. Its wants to have a 99.7 percent
control limits on its forecasting system. It's most recent
tracking signal value is 3.1. What can the company conclude
from this information?
Management & Forecasting Concepts –
Comprehensive Practice Questions and
Answers
Introduction:
This document contains an extensive collection of practice
questions with correct answers covering forecasting, demand
planning, statistical process control, and lean production
concepts as part of the ONE YIELD v2 Certification. It includes
calculations, multiple-choice questions, and true/false
statements focused on MAD, tracking signals, exponential
smoothing, regression, kanban systems, and lean supply chain
principles.
The material is well suited for exam preparation, revision, and
reinforcing key operations management theories and
quantitative techniques.
Exam Questions and Answers:
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?
A. Cannot be calculated based on this information
B. About 14.3
C. More than 35
D. Exactly 35
E. About 0.07 - -ANSWER:-B
A company has a MAD of 10. Its wants to have a 99.7 percent
control limits on its forecasting system. It's most recent
tracking signal value is 3.1. What can the company conclude
from this information?
