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DHN 342 Exam 2 Study Guide exam with correct answers 2024 $13.49   Add to cart
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DHN 342 Exam 2 Study Guide exam with correct answers 2024
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forecasting correct answers term used to describe the art and science of estimating events in the future, which provides a database for decision making and planning; objective is to prepare menu items in the needed quantity and with the desired quality, at a cost appropriate to the particular food...

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  • August 23, 2024
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  • 2024/2025
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DHN 342 Exam 2 Study Guide

forecasting correct answers term used to describe the art and science of estimating
events in the future, which provides a database for decision making and planning;
objective is to prepare menu items in the needed quantity and with the desired quality,
at a cost appropriate to the particular foodservice operation; goal is to avoid
overproduction and/or underproduction

underproduction is worse because you risk losing a customer is you don't have enough
food or don't have enough of what the customer wants correct answers Which is worse:
overproduction or underproduction? Why?

time series, causal, and subjective correct answers What are the three types of
forecasting models?

time series correct answers type of forecasting model in which the assumption is made
that actual occurrences follow an identifiable pattern over time ; this type utilizes the 5-
day-moving-average, which means that the sales completed in the first five days of
service are averaged out, and then on the sixth day, the average is taken of days 2-6,
and so on; this type of forecasting is suitable for short-term forecasts, and potential
issues include special events, weather, and holidays affecting sales (and thereby
throwing off the predictions)

used in the time series forecasting model; takes an average of sales completed over a 5
day span; the longer the time the average is taken, the smoother the trend line will be
correct answers Explain the 5-day-moving average.

an exponentially decreasing set of weights is used, which gives recent values more
weight than older ones; gives more recent values more weight than other ones ; alpha
factor is used to adjust for errors in previous forecasts correct answers Explain the time
series model.

alpha factor correct answers a method that can be used to adjust for errors in
forecasting; number between 0 and 1

last demand; last forecast correct answers In alpha factor calculations, the high the
alpha factor, the more dependent we are on the ________ _________. The lower the
alpha factor, the more dependent we are on the _______ __________

causal model correct answers type of forecasting model that makes the assumption
that an identifiable, linear relationship exists between the item being forecast and "other
factors" and will continue for a reasonable period of time; the item being forecast is the

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