About forecasting approaches and methods

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1. Which statement is NOT true about forecasting approaches and methods?

Consumer forecasts can be used for Judgmental forecasting.

Time-series forecasts assume what happened in the past, will continue to happen in the future.

Associative models use single or multi-variable equations.

Time-series forecasts are usually correct because of consistency in market performance.

Delphi method is based on surveying people who possess the knowledge and ability to contribute meaningfully.

2. Which statement is NOT true about basic processing types?

Job shops are appropriate for producing highly customized goods.

Unit cost in a job shop process is higher than repetitive process.

Costing in a repetitive process is more complicated than a job shop.

Fixed costs are higher in continuous processes compared to batch processes.

repetitive manufacturing is more appropriate for high volume, low variety products.

3. Which statement is NOT true regarding product design approaches and methodologies?

The main goal of concurrent engineering is to simultaneously design the product and the processes for creating the product.

House of quality starts with customer requirements and results in a quality plan.

Taguchi's approach is based on the concept of designing a product capable of performing under a prescribed set of conditions.

A product that can function under a broad range of conditions has a robust design.

A product with reliable design works well under normal operating conditions.

Reference no: EM132104268

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