Question 1. | Question : | (TCO 1) Gary Puckette, human relations director at ABC Company, and Steve Gap, ABC’s operations director, have been asked by General Manager Dick Clark to confirm a manpower budget for a new product’s upcoming production run next month. When Gary and Steve select their quantitative forecasting method, on which time horizon should they be focusing on to choose their forecasting method? |
| | Student Answer: | | Short range | | | | Medium range | | | | Annual | | | | Long range | | | | None of the above | | | |
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Question 2. | Question : | (TCOs 1 and 2) Weekly sales of gallons of milk at the corner store are shown below. Using these data, forecast Week 7 using a 6-week moving average. |
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Question 3. | Question : | (TCOs 3 and 4) In a regression equation, y = a + bx, which is the dependent variable? |
| | Student Answer: | | y | | | | a | | | | b | | | | x | | | | None of the above | |
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Question 4. | Question : | (TCOs 3, 4, and 5) The equation 550 + 7.3t is what Company XYZ uses to estimate monthly demand, where t = 1 is the first quarter of 2009. The quarterly seasonal indices are as follows: Quarter 1 = 0.6, Quarter 2 = 1.4, Quarter 3 = 0.7, and Quarter 4 = 1.3. What is the seasonally adjusted forecast for the four quarters of 2010? |
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