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