100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
DHN 342 Exam 2 Study Guide exam with correct answers 2024 $13.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. DHN 342 Exa
  4.  
  5. DHN 342 Exa

Exam (elaborations)

DHN 342 Exam 2 Study Guide exam with correct answers 2024
 7 views  0 purchase
  • Course
  • DHN 342 Exa
  • Institution
  • DHN 342 Exa

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...

[Show more]

Preview 1 out of 4  pages

Document information

  • August 23, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • dhn 342 exam 2 study guide

Written for

  • DHN 342 Exa
  • DHN 342 Exa

Seller

avatar-seller
HopeJewels

Reviews received

Content preview

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

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller HopeJewels. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.49
  • (0)
  Add to cart