Multiple Choice Questions (MCQ) on Forecasting
Multiple Choice Questions (MCQ) on Forecasting
Operations generated forecasts often not to do with
- Inventory requirements
- Resource needs
- Time requirements
- Sales
(Ans:d)
Which of the following is not true for forecasting?
- Forecasts are rarely perfect
- The underlying casual system will remain same in the future
- Forecast for group of items is accurate than individual item
- Short range forecasts are less accurate than long range forecasts
(Ans:d)
Which of the following is not a forecasting technique?
- Judgemental
- Time series
- Time horizon
- Associative
(Ans:c)
In which of the following forecasting technique, subjective inputs obtained from various sources are analyzed?
- Judgemental forecast
- Time series forecast
- Associative model
- All of the above
(Ans:a)
In which of the following forecasting technique, data obtained from past experience is analyzed?
- Judgemental forecast
- Time series forecast
- Associative model
- All of the above
(Ans:b)
Delphi method is used for
- Judgemental forecast
- Time series forecast
- Associative model
- All of the above
(Ans:a)
Short term regular variations related to the calendar or time of day is known as
- Trend
- Seasonality
- Cycles
- Random variations
(Ans:b)
The demand for period t-2 and t-1 is 10 and 12 cases respectively. As per naïve method, the demand for next period ‘t’ is
- 10
- 11
- 12
- 14
(Ans:d)
Calculate four periods moving average forecast from the last six periods
Period | Demand |
1 | 38 |
2 | 40 |
3 | 42 |
4 | 40 |
5 | 44 |
6 | 38 |
- 40
- 41
- 42
- 43
(Ans:b)
Calculate a weighted average forecast using a weight of .50 to the most recent period, .40 for the next recent period and .30 for the next period
Period | Demand |
1 | 38 |
2 | 40 |
3 | 42 |
4 | 40 |
5 | 44 |
6 | 38 |
a. 46.6
b. 47.6
c. 48.6
d. 49.6
(Ans:c)
A linear trend equation has the form
- F=a-bt
- F=a+bt
- F=2a-bt
- F=2a+bt
(Ans:b)
If the actual demand for a period is 100 units but forecast demand was 90 units. The forecast error is
- -10
- +10
- -5
- +5
(Ans:b)