True - ANSWERCorrelation measures the strength and direction of a relationship between variables
True - ANSWERThe Delphi approach involves the use of a series of questionnaires to achieve a consensus forecast
True - ANSWERIn order to update a moving average forecast, the value of each data po...
MSIS 3223 Exam #2 Questions &
Answers(RATED A+)
True - ANSWERCorrelation measures the strength and direction of a relationship between variables
True - ANSWERThe Delphi approach involves the use of a series of questionnaires to achieve a
consensus forecast
True - ANSWERIn order to update a moving average forecast, the value of each data point in the
average must be known
False - ANSWERForecasts based on time-series (historical) data are referred to as associative
forecasts
True - ANSWERThe best forecast is not necessarily the most accurate
False - ANSWERMAD is equal to the square root of MSE, which is why we calculate the easier MSE
and then calculate the more difficult MAD
True - ANSWEROrganizations that are capable of responding quickly to changing requirements can
use a shorter forecast horizon and therefore benefit from more accurate forecasts
Smooth variations in the data - ANSWERMoving average forecasting techniques do the following:
MAPE - ANSWERPutting forecast errors into perspective is best done using
Second opinions - ANSWERForecasts based on judgment and opinion do not include:
True - ANSWERAn advantage of trend-adjusted exponential smoothing over the linear trend equation
is its ability to adjust over time to changes in the trend
True - ANSWERTrend-adjusted exponential smoothing requires selection of two smoothing constants
, True - ANSWERAn advantage of a weighted moving average is that recent actual results can be given
more importance than what occurred a while ago.
Time series analysis - ANSWERWhich of the following is not a type of judgmental forecasting?
Members of the sales force can have difficulty distinguishing between what customers would like to
do and what they actually will do. - ANSWERWhich of the following is a potential shortcoming of
using sales force opinions in demand forecasting?
Demand forecasts - ANSWERWhich of the following is/are a primary input into capacity, sales, and
production planning?
True - ANSWERReliability can be improved by the use of backup components.
False - ANSWERTo save money, it is essential that designers revise the production capabilities to
meet the requirements of the new products.
False - ANSWERRobust design describes a product that will perform satisfactorily so long as it is used
in a very narrow range of conditions.
True - ANSWERA service blueprint is quite similar to an architectural drawing.
False - ANSWERA house of quality is achieved when no department in a single location has more
than 15 percent rejects.
True - ANSWERApplied research is the major R&D effort of business organizations because of their
desire for commercial applications.
False - ANSWERTaguchi design methods involve identifying the optimal operating or environmental
conditions for a given product.
True - ANSWERReliability can be defined in terms of a particular point in time or in terms of length of
service.
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 papersbyjol. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
