Which of the following most requires long-range forecasting (as opposed to short-range ormedium-range forecasting) for its planning purposes?A. production levelsB. purchasingC. capital expendituresD. job schedulingE. cash budgeting

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Answered: Which of the following most requires…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Here are the errors associated with a particular forecast over the past five months, in chronological order: 2, 5, 0, -5, -10. Which of the following statements is (are) true? I. The forecast was too high during the fifth month. II. The mean error over these five months is -2. III. The forecast was perfectly accurate during one of the months. a. I only Ob. Il only O. Il only d. I and III Oe.I, Il and II
The observed demand from the four quarters of Year 1 can also be used to developinitial deseasonalized forecast estimates that are required to start making forecasts withthe exponential smoothing models. The first real forecast will be for Q1 of Year 2, andthe use of simple exponential smoothing requires an estimated deseasonalized forecastfrom Q4 of Year 1 to use as a starting point. The estimated deseasonalized “forecast” forQ4 of Year 1 should be obtained as the average deseasonalized quarterly demand fromYear 1. The estimate can also be used as the starting base forecast component for Q4 ofYear 1 for trend-adjusted exponential smoothing. The initial deseasonalized trendcomponent estimate for Q4 of Year 1 should be assumed to be zero.
Which of the following are qualitative methods of forecasting? a. Sales force composite O b. Market survey O C. All of the above O d. Delphi method
Which of the following is important if forecasting is to have the desired positive effect on decisions? A. Communication between forecast staff and managment B. Ranges of forecast are reported to managment C. Forecast combination is examined D Forecast presentations should not be overly technical unless managment desires E All of the above Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
What type of analysis is used to identify patterns in past data to forecast future outcomes? A. Sentiment analysis B. Competitive benchmarking C. Customer analysis D. Predictive analytics
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17 Gradual upward or downward movement of data over time is called: Select one: a. a trend. b. seasonality. c. exponential variation. d. a cycle. e. random variation.
Forecast error is calculated as: Actual - Forecast O Forecast - Actual (Forecast - Actual) ^ 2 Absolute (Actual - Forecast) (Actual - Forecast) ^ 2
Which of the following is not a step in the forecasting process? O a. select a forecasting model O b. eliminate all assumptions O c. determine the purpose and level of detail required O d. establish a time horizon O e. monitor the forecast GE 321
Which one of the forecasting methods is capable of handling large amounts of data and uncovering complex relationships? O a. Qualitative forecasting O b. Weather forecasting O c. Quantitative forecasting O d. Sales forecasting

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Which of the following most requires long-range forecasting (as opposed to short-range or medium-range forecasting) for its planning purposes? A. production levels B. purchasing C. capital expenditures D. job scheduling E. cash budgeting