Task: Indicate whether the sentence or statement is True or False.
1. A trend is a gradual, long-term, up or down movement of demand.
2. Time series methods are the most common type of forecasting method for the long-term strategic planning process.
3. Shorter-period moving averages react more slowly to recent demand changes than do longer-period moving averages.
4. Technological forecasting has become increasingly crucial to compete in the modern international business environment.
5. Time series methods relate the forecast to more than just time.
Identify the letter of the choice that best completes the statement or answers the question.
6. An example of forecasting is
a. meteorologists predicting the weather
b. sportscasters predicting the winner of a football game
c. managers attempting to predict how much of their product will be demanded in the future
d. all of the above
7. ___________ is a gradual, long-term, up or down movement of demand
a. Seasonal pattern
b. Cycle
c. Trend
d. Prediction
8. __________ is good for stable demand with no pronounced behavioral patterns
a. Longer-period moving average
b. Shorter-period moving average
c. Moving average
d. weighted moving average
9. ___________ is a measure of the strength of the relationship between independent and dependent variables.
a. Correlation
b. Linear regression
c. Coefficient of determination
d. Regression
10. In adjusted exponential smoothing, the closer beta is to ____________, the stronger a trend is reflected.
a. -1 or 1
b. -1
c. 0
d. 1