Home Chapter 7 Multiple Choice Questions

Multiple Choice Questions

This activity contains 10 questions.

Decisions relating to production scheduling involve:

 
short-term forecasting.
medium-term forecasting.
long-term forecasting.
both short-term as well as medium-term forecasting
both short-term, medium-term and long-term forecasting

Decisions relating to the sales and operations planning (aggregate planning) involve:
 
short-term forecasting.
medium-term forecasting.
long-term forecasting.
both short-term and medium-term forecasting
both short-term, medium-term and long-term forecasting

Which one of the following does not fall under qualitative forecasting method?
 

  Judgmental methods

  Life cycle analogy

  Delphi method

  Market research

  Moving average methods
 For which of the following situation(s) is the market research method of forecasting suitable?

 
When a firm is working with stable technology
 
When a firm is planning moderate changes on product innovations
 
When a firm is market testing one of its new offerings
 
when a firm is working with stable technology, planning moderate changes on product innovations or market testing one of its new
  offerings.
when a firm is planning moderate changes on product innovations and market testing one of its new offerings
 

Which of the following forecasting method is suitable for launching new products?

 

  Judgmental methods

  Exponential smoothing

  Market research

  Causal models

  Moving average methods

Which of the following method(s) is(are) suitable for forecasting the demand of a product?
 

  Delphi method

  Market research

  Judgmental methods

  Delphi method and judgmental method

  Market research and judgmental method

What is the measure of forecast error which calculates the average forecast error over n time periods known as?
 

  Mean error

  Mean absolute deviation

  Mean absolute percentage error

  Mean-square error

The measure of forecast error which calculates the average of absolute differences between the actual and the forecast
demand over n time periods is known as:
 

  mean absolute deviation

  mean-square error

  mean absolute percentage error

  mean error

The measure of forecast error which calculates the average of square of the forecast errors is known as:
 

  mean absolute percentage error

  mean absolute deviation

  mean error

  mean-square error

The measure of forecast error which calculates the average of absolute forecast errors as a percentage of the actual
demand is known as:
 

  mean error

  mean-square error

  mean absolute deviation

  mean absolute percentage error