Reference no: EM131063340

1._______ allows the manager to anticipate the future so then can plan accordingly.

• Forecasting
• Planning
• Organizing     
• Leading

2. Forecasts are rarely perfect because of:

• Internal factors
• Randomness
• External factors
• All of the given options

3. Forecast accuracy ________ as time horizon increases.

• Increases
• Decreases
• Remains the same
• None of the given options

4. __________ use explanatory variables to predict the future.

• Judgmental forecasts
• Time series forecasts
• Associative models
• All of the given options

5. All of the following are examples of judgmental forecasts except:

• Executive opinions
• Consumer surveys
• Delphi method
• Naïve forecasts

6. _________ requires completing a series of questionnaires, each developed from the previous one, to achieve a consensus forecast.

• Naïve forecast
• Time series analysis
• Associative models
• Delphi method

7. One of the drawbacks of naïve forecasts is:

• Low accuracy
• High cost
• No ease at using
• None of the given options

8. All of the following are responsible for irregular variations except:

• Severe weather
• Earthquake
• Worker strikes
• Cultural changes

9. _______ is a technique that averages a number of recent actual values, updated as new values become avilable.

• Moving average
• Weighted moving average
• Simple moving average
• Exponential smoothing

10. MAPE stands for:

• Measure Actual Performance Error
• Mean Absolute Percent Error
• Mean Actual Percent Error
• Mean Absolute Performance Error