Forecasting based on simple exponential smoothing method

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Reference no: EM132307757

1. The primary benefit of a MINIMAX objective function is:

a. it yields any feasible solution by changing the weights.

b. it yields a larger variety of solutions than generally available using an LP method.

c. it is limited to all corner points.

d. it makes many of the deviational variables equal to zero.

2. Inputs whose quantity of supply is fixed and does not respond to price increases are said to be:

A. elastic in supply.

B. inelastic in supply.

C. elastic in demand.

D. perfectly competitive

3. In reality, strategic choices are often made over time, in a ________ manner.

A. planned

B. staged

C. deliberate

D. flexible

4. Which of the followings is not used in forecasting based on the simple exponential smoothing method?

A. The most recent forecast for the past year

B. Precise actual demand for the past year

C. The value of the smoothing constant

D. Trend for the past year

5. If all you knew about a production system was that total daily output was 400 units and the total labor necessary to produce the 400 units was 350 hours, and the total materials used were 425 units, what kind of productivity measure could you compute?

Multifactor measure and Total measure

Partial measure and Multifactor measure

Multifactor measure

Partial measure

Reference no: EM132307757

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