FORECASTING

FORECASTING

University

16 Qs

quiz-placeholder

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FORECASTING

FORECASTING

Assessment

Quiz

Business

University

Practice Problem

Medium

Created by

John Servidad

Used 26+ times

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a technique used to determine forecasting accuracy?

Exponential Smoothing

Moving Average

Regression

Delphi Method

Mean Absolute Percent Error

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following methods gives an indication of the percentage of forecast error?

MAD

MSE

MAPE

Bias

3.

DROPDOWN QUESTION

1 min • 1 pt

The ​ (a)   the value of MAD relative to the magnitude of the data, the more accurate the forecast

lower
higher

4.

DROPDOWN QUESTION

1 min • 1 pt

​ (a)   is the average, absolute difference between the forecast and the demand.

MAD
MAPD
MSE

5.

DROPDOWN QUESTION

1 min • 1 pt

​ (a)   -period moving averages react more slowly to recent demand changes than do ​ (b)   -period moving averages.

longer
shorter

6.

DROPDOWN QUESTION

1 min • 1 pt

As one increases the number of periods used in the calculation of a moving average, ​ (a)   emphasis is placed on more recent data.

less
more

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a component of a time series?

Trend

Seasonality

Forecast Error

Irregularity

Answer explanation

Forecast error is not a component of a time series. It is a measure of how accurately a forecast predicts the future values of a time series. The components of a time series are trend, seasonality, and irregularity.

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