1. What are the advantages and disadvantages of management by objectives (MBO)? Does your company use some type of system like this? If yes, does it work? If not, why doesn't your company use a system like this? explain in details.
2. A tire company needs a forecast for studded tires in the next forecast period. The company typically uses an exponential smoothing forecast using a smoothing constant of alpha = 0.20. The demand for the most recent period was 100 and the forecast for the same period was 110. Based on this information, what is the tire company's forecast for the next period?
A. 100 tires
B. 102 tires
C. 108 tires
D. 110 tires
E. Impossible to determine
Please show work
3. Which is the only measure of forecast error that can be a negative number?
A. Cumulative Sum of Forecast Errors, CFE
B. Mean Square Error, MSE
C. Mean Absolute Percentage of Errors, MAPE
D. Mean Absolute Deviation, MAD Cumulative Sum of Forecast Errors, CFE
E. None, all these measures of forecast error are positive numbers