Test on Operations Management: Processes and Supply Chains

 Quiz about Operations Management: Processes and Supply Chains Article

Functions Management: Procedures and Supply Chains, 10e (Krajewski et 's. ) Phase 14 Forecasting

1) The repeated findings of demand for a product or perhaps service within their order of occurrence form a design known as a period series. Response: TRUE

Reference: Demand Habits

Difficulty: Easy

Keywords: period series, repeated observations

2) One of the basic time series patterns is definitely random.

Solution: TRUE

Reference point: Demand Patterns

Difficulty: Easy

Keywords: time series, routine, random

3) Random deviation is a piece of require that boosts the accuracy with the forecast. Answer: FALSE

Reference: Demand Patterns

Difficulty: Convenient

Keywords: arbitrary variation, outlook accuracy

4) Aggregation may be the act of clustering several similar goods and services. Answer: THE CASE

Reference: Key Decisions on Making Predictions

Difficulty: Moderate

Keywords: crowd, clustering

5) Aggregating goods and services together generally decreases the forecast accuracy. Answer: BOGUS

Reference: Crucial Decisions in Making Predictions

Difficulty: Moderate

Keywords: assimilation, forecast precision

6) Judgment methods of foretelling of are quantitative methods apply historical info on impartial variables to predict require. Answer: FALSE

Reference: Crucial Decisions on Making Predictions

Difficulty: Modest

Keywords: judgment method, prediction, historical data, qualitative strategies Learning Final result: Describe major approaches to forecasting

7) Time-series analysis is known as a statistical approach that depends on historical demand data to project the near future size of demand. Answer: THE CASE

Reference: Important Decisions about Making Predictions

Difficulty: Modest

Keywords: time series, prediction, historical require data

Learning Outcome: Illustrate major approaches to forecasting

8) The origin method of predicting uses historical data upon independent parameters (such because promotional promotions and monetary conditions) to predict the necessity of based mostly variables (such as product sales volume). Solution: TRUE

Research: Key Decisions on Producing Forecasts

Difficulty: Moderate

Keywords: causal method, independent variable, dependent variable Learning Outcome: Describe major approaches to foretelling of

9) Salesforce estimates are really useful for technological forecasting. Answer: FALSE

Guide: Judgment Methods

Difficulty: Modest

Keywords: salesforce, technological forecasting

Learning End result: Describe key approaches to forecasting

10) Technical forecasting is usually an application of executive judgment in light with the difficulties in keeping up to date with the latest advancements in technology. Answer: AUTHENTIC

Reference: Common sense Methods

Difficulty: Moderate

Keywords: technological forecasting, executive view

Learning Result: Describe major approaches to foretelling of

11) Researching the market is a systematic approach to decide consumer interest by gaining consensus from a group of authorities while maintaining all their anonymity. Answer: FALSE

Reference: Judgment Methods

Difficulty: Modest

Keywords: market research, Delphi

Learning Outcome: Describe major ways to forecasting

12) Judgment strategies of forecasting is never used with quantitative forecasting methods. Answer: FALSE

Reference: Wisdom Methods

Problems: Moderate

Keywords: judgment, quantitative method

Learning Outcome: Describe major approaches to forecasting

13) The Delphi method is a procedure of increasing consensus via a group of experts by issue and voting throughout a lot of rounds of group dialogue led with a moderator. Response: FALSE

Reference point: Judgment Methods

Difficulty: Average

Keywords: view, Delphi approach

Learning Final result: Describe main approaches to forecasting

14) Regression equations using a coefficient of determination near to zero are really accurate because they have small forecast problem. Answer: PHONY

Reference: Origin Methods: Geradlinig Regression

Problems:...

Popular