Absolute deviation mad - Study guides, Class notes & Summaries

CSCP (Supply Chain Management) Chapter 4 Question and Answers Latest Updated A+ Graded.

Give an example of a casual method of forecasting correct answers Linear Regression What does a graphical plot showing sales on the Y axis and time on the X represent? correct answers A measurement of the sales trend (increase/decrease) throughout a specific time frame (Scatter Diagram) Which forecasting error technique gives the percentage of forecast error? correct answers MAPE (Mean Absolute Percent Error) If your goal is to determine forecasting accuracy, what is an example of a tec...

Which is not true regarding the difference between goods and services? correct answers Tangible goods are generally produced and consumed simultaneously; services are not. The service sector makes up approximately what percentage of all jobs in the United States? correct answers 80%. Which is not true regarding differences between goods and services? correct answers Goods tend to have higher customer interaction than services. Among the ethical and social challenges facing operations ma...

4 Ps correct answers `Product, Price, Promotion, Place Competitive Priorities/Performance Objectives correct answers Cost, Quality, Time, Flexibility Which trends are easiest to forcasat correct answers Stable demand Master Scheduling forcast/horizon correct answers Physical units at end item level/3-18 months Seasonal Index correct answers Period Average Demand/Average Demand of All Periods Qualitative Techniques correct answers Based on opinion, subjective (market research/busin...

Give an example of a causal method of forecasting correct answers Simple Linear Regression What does a graphical plot showing sales on the Y axis and time on the X represents? correct answers It measures the sales trend (increase or decrease) throughout a specific time frame with a scatter plot. One of these forecasting error techniques give the percentage of forecast error, which one? correct answers MAPE(Mean Absolute Percent Error) If your goal is to determine forecasting accuracy, w...

SWOT analysis - ANSWER a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats Pareto Principle - ANSWER 80% of purchasing cost is created by 20% of the purchase orders issued spend analysis - ANSWER process of collecting, cleansing, classifying and analyzing expenditure data with the purpose of decreasing procurement costs, improving efficiency, and monitoring compliance procurement profile - ANSWER result produced after conducting a series ...

Population Includes all objects of interest in a study— people, households, machines, etc. Sample Representative subset of population, usually chosen randomly Variable (or field or attribute) Attribute or measurement of members of a population, such as height, gender, or salary Observation (or case or record) List of all variable values for a single member of a population Data Set (Usually) a rectangular array of data, with variables in columns, observations in rows, and variable names in ...

The variance and standard deviation are the most widely used measures of central location. - False The variance and standard deviation are the most widely used measures of dispersion The _______ identifies the number of standard deviations a particular value is from the mean of its distribution. - z-score The z-score measures the distance of a given sample value from the mean in standard deviations. Which of the following statements about the mean absolute deviation (MAD) is th...

MBA 624 Exam 2/(40 Questions and Answers)/100% Correct/Latest update with complete solution MBA 624 Exam 2/(40 Questions and Answers)/100% Correct/Latest update with complete solution. Use the following data to answer Questions 1 to 6 and 13-15 (assume it is a sample). Store Identifier Number of employees Pastry type Dozens sold each day Other featured items Sales of featured item each day Profit from Patry Sales Profit from Featured Item Sales Total Profit ...

CPIM Part 1 Formulas Break-Even in Units -Answer-(Fixed Cost)/(Price per Unit - Variable Cost per Unit) Deseasonalized Demand -Answer-(Period Average Demand)/(Seasonal Index) Period Seasonal Index -Answer-(Period Average)/(Combined Period Average) (Ex: Quarter Avg / Year Avg) Moving Average Forecast -Answer-(Sum of Demand for Most Recent Set of Periods)/(Number of Periods) Exponential Smoothing Forecast -Answer-(α*Last Demand)+((1-α)*Last Forecast) Mean Absolute Deviation (MAD) -Answer...