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  11) A forecast method generally said to be accurate when

Question :   11) A forecast method generally said to be accurate when : 2065987

 

11) A forecast method is generally said to be accurate when the errors exhibit an identifiable pattern.

12) Bias exists when the forecast tends to be greater or less than the actual demand.

13) In measuring the forecast accuracy, bias is measured by the cumulative sum of forecast errors.

14) What will be the forecast for the month of October using a 3-period moving average and weights of 0.2, 0.3 and 0.5, if the demand during the months of May, June, July, August and September was 200, 180, 210, 200 and 220 respectively? (The desire is to have the most recent data in?uence the forecast most strongly.)

A) 200

B) 207

C) 212

D) 225

15) NextGenTabs has introduced their latest model of tablet computers and these have been very well received and popular in the market. NextGenTabs has seen the demand for their tablet computers showing a steady increase month over month for the last six months. In using an exponential smoothing forecasting technique to forecast demand for future periods, NextGenTabs should use a smoothing constant (?) that is

A) low.

B) high.

C) random.

D) variable.

 

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