OPMA 3306 FINAL EXAM QUETIONS
WITH 100% VERIFIED ANSWERS
\.Which of the following forecasting methodologies is considered a time series
forecasting technique? - ANSWERS✔-Simple moving average
\.A company wants to forecast demand using the weighted moving average. If the
company uses two prior yearly sales values (i.e., year 2012=110 and year
2013=130), and we want to weight year 2012 at 10% and year 2013 at 90%, which
of the following is the weighted moving average forecast for year 2014? -
ANSWERS✔-Forecast for 2014 = (110x0.1) + (130x0.9) = 11 + 117 = 128
\.Given a prior forecast demand value of 230, a related actual demand value of
250, and a smoothing constant alpha of 0.1, what is the exponential smoothing
forecast value for the following period? - ANSWERS✔-Forecast = 230 + 0.1 x (250-
230) = 232
\.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? -
ANSWERS✔-MAD = ABS((100-120)+(105-120)+(135-120)+(150-120))/4 = 80/4 =20
, \.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? - ANSWERS✔-Since the same data is being used in the question, MAPE
would be least when MAD was smallest.
\.A company hires you to develop a linear regression forecasting model. Based on
the company's historical sales information, you determine the intercept value of
the model to be 1,200. You also find the slope value is minus 50. If after
developing the model you are given of x=10, which of the following is the resulting
forecast value using this model? - ANSWERS✔-The linear regression line is of the
form Y = a + bX, where Y is the value of the dependent variable that we are solving
for, a is the Y intercept, b is the slope, and X is the independent variable. Hence, Y
= 1,200 + (-50) x 10 = 700.
\.What is a work breakdown structure? - ANSWERS✔-A def of the hierarchy of
project tasks, subtasks, and work packages
\.You have just been assigned to oversee a series of projects. Functional areas will
loan you personnel for each project and separate project managers will be
responsible for separate projects. These project managers will report to you.
Which project management structure is being used? - ANSWERS✔-Matrix Project
\.In conducting aggregate operations planning there are a number of required
inputs. Which of the following are inputs considered external to the firm? -
ANSWERS✔-Raw material availability and competitor's behavior
WITH 100% VERIFIED ANSWERS
\.Which of the following forecasting methodologies is considered a time series
forecasting technique? - ANSWERS✔-Simple moving average
\.A company wants to forecast demand using the weighted moving average. If the
company uses two prior yearly sales values (i.e., year 2012=110 and year
2013=130), and we want to weight year 2012 at 10% and year 2013 at 90%, which
of the following is the weighted moving average forecast for year 2014? -
ANSWERS✔-Forecast for 2014 = (110x0.1) + (130x0.9) = 11 + 117 = 128
\.Given a prior forecast demand value of 230, a related actual demand value of
250, and a smoothing constant alpha of 0.1, what is the exponential smoothing
forecast value for the following period? - ANSWERS✔-Forecast = 230 + 0.1 x (250-
230) = 232
\.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? -
ANSWERS✔-MAD = ABS((100-120)+(105-120)+(135-120)+(150-120))/4 = 80/4 =20
, \.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? - ANSWERS✔-Since the same data is being used in the question, MAPE
would be least when MAD was smallest.
\.A company hires you to develop a linear regression forecasting model. Based on
the company's historical sales information, you determine the intercept value of
the model to be 1,200. You also find the slope value is minus 50. If after
developing the model you are given of x=10, which of the following is the resulting
forecast value using this model? - ANSWERS✔-The linear regression line is of the
form Y = a + bX, where Y is the value of the dependent variable that we are solving
for, a is the Y intercept, b is the slope, and X is the independent variable. Hence, Y
= 1,200 + (-50) x 10 = 700.
\.What is a work breakdown structure? - ANSWERS✔-A def of the hierarchy of
project tasks, subtasks, and work packages
\.You have just been assigned to oversee a series of projects. Functional areas will
loan you personnel for each project and separate project managers will be
responsible for separate projects. These project managers will report to you.
Which project management structure is being used? - ANSWERS✔-Matrix Project
\.In conducting aggregate operations planning there are a number of required
inputs. Which of the following are inputs considered external to the firm? -
ANSWERS✔-Raw material availability and competitor's behavior
