MCQ Questions
Q.1.
assumes that one or more factors predict future demand
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    Qualitative Forecasting
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    Cause-and-Effect Models can have multiple independent variables.A. TrueB. False
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    Cause and Effect
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    Customer survey
Q.2.
forecast performed specifically with a group of salespeople
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    Sales force estimation
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    Quantitative Forecasting
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    Jury of executive opinion
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    Qualitative Forecasting
Q.3.
measures the size of the error in percentage terms. It is calculated as the average of the unsigned percentage error. MAPE = ∑ ((|A - F|)/ A) / n
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    Mean Squared Error (MSE)
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    Mean Absolute Percent Error (MAPE)
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    Mean absolute deviation (MAD)
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    What are the five qualitative forecasting models?
Q.4.
C. Seasonal Variation
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    In the absence of any other information or visibility, individual supply chain participants can begin second-guessing what is happening with ordering patterns, and potentially start over-reacting. This is know as?a. Forecast Bias b. The Bullwhip Effect c. A Tracking Signal d. The Running Sum of Forecast Errors
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    When creating a quantitative forecast, data should be evaluated to detect for a repeating pattern of demand from year to year, or over some other time interval, with some periods of considerably higher demand than others. This is known as a?a. Trend Variation b. Random Variation c. Seasonal Variation d. Cyclical Variation
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    What does the acronym CPFR represent?a. Coordinated Planning & Forecasting Relationships b. Collaborative Planning, Forecasting, & Replenishment c. Centralized Purchasing & Forecasting Relationships d. Collaborative Purchasing, Forecasting, & Receivables
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    What are the types of quantitative forecasting?
Q.5.
forecast where the input of each of the participants is collected separately so that people are not influenced by one another
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    Customer survey
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    Independent Demand
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    Demand Planning
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    Delphi Method
Q.6.
forecast from people who know the most about the product and the marketplace that would likely form a jury to discuss and determine the demand
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    Quantitative Forecasting
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    Customer survey
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    Sales force estimation
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    Jury of executive opinion
Q.7.
an estimate of future demand
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    Forecasting
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    Forecast
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    What are the two basic forecasting techniques?
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    Demand
Q.8.
Forecasting which is based on opinion and intuition
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    Qualitative Forecasting
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    Personal Insight
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    Cause and Effect
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    Quantitative Forecasting
Q.9.
the process of combining statistical forecasting techniques and judgement to construct demand estimates for products or services
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    Demand Planning
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    Dependent Demand
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    Delphi Method
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    Forecasting
Q.10.
demand for an item that is unrelated to the demand for other items, such as finished product, a spare part, or a service part
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    Five models of Time Series
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    Delphi Method
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    Independent Demand
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    Dependent Demand
Q.11.
D. naive method
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    When creating a quantitative forecast, data should be evaluated to detect for a repeating pattern of demand from year to year, or over some other time interval, with some periods of considerably higher demand than others. This is known as a?a. Trend Variation b. Random Variation c. Seasonal Variation d. Cyclical Variation
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    Independent Demand is demand for an item that is directly related to other items or finished products, such as a component or material used in making a finished product.A. TrueB. False
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    What are the two basic forecasting techniques?
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    Which one of the following is NOT a type of qualitative forecasting?a. Sales force composite b. Consumer survey c. Jury of executive opinion d. Naïve method
Q.12.
Time Series and Cause and effect
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    What are the two basic forecasting techniques?
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    Two models of Cause and Effect
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    What are the five qualitative forecasting models?
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    What are the types of quantitative forecasting?
Q.13.
B. False
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    Independent Demand is demand for an item that is directly related to other items or finished products, such as a component or material used in making a finished product.A. TrueB. False
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    Which one of the following is NOT a type of qualitative forecasting?a. Sales force composite b. Consumer survey c. Jury of executive opinion d. Naïve method
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    Cause-and-Effect Models can have multiple independent variables.A. TrueB. False
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    Independent Demand
Q.14.
forecast is based on the inside of the most experienced, most knowledgeable, or most senior person available
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    Customer survey
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    Delphi Method
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    Personal Insight
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    Quantitative Forecasting
Q.15.
based on the assumption that the future is an extension of the past. Historical data is used to predict future demand ( most frequently used amount all the forecasting models)
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    Dependent Demand
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    Time Series
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    Delphi Method
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    Customer survey
Q.16.
forecasting which uses mathematical models and historical data to make forecasts
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    Customer survey
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    Quantitative Forecasting
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    Qualitative Forecasting
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    Personal Insight
Q.17.
Naive forecasting, simple moving average forecasting, weighted moving average, exponential smoothing, and linear trend
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    Independent Demand
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    Two models of Cause and Effect
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    Dependent Demand
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    Five models of Time Series
Q.18.
the business function that estimates future demand for products so that they can be purchased or manufactured in appropriate quantities in advance of need
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    Time Series
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    Forecasting
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    Forecast
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    Demand Planning
Q.19.
magnifies the errors by squaring each one before adding them up and dividing by the number of forecast periods. MSE = ∑ (A-F) ² / n
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    Mean absolute deviation (MAD)
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    Mean Absolute Percent Error (MAPE)
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    Mean Squared Error (MSE)
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    Independent Demand
Q.20.
B. The Bullwhip Effect
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    In the absence of any other information or visibility, individual supply chain participants can begin second-guessing what is happening with ordering patterns, and potentially start over-reacting. This is know as?a. Forecast Bias b. The Bullwhip Effect c. A Tracking Signal d. The Running Sum of Forecast Errors
  • 0%
    When creating a quantitative forecast, data should be evaluated to detect for a repeating pattern of demand from year to year, or over some other time interval, with some periods of considerably higher demand than others. This is known as a?a. Trend Variation b. Random Variation c. Seasonal Variation d. Cyclical Variation
  • 0%
    What does the acronym CPFR represent?a. Coordinated Planning & Forecasting Relationships b. Collaborative Planning, Forecasting, & Replenishment c. Centralized Purchasing & Forecasting Relationships d. Collaborative Purchasing, Forecasting, & Receivables
  • 0%
    Independent Demand is demand for an item that is directly related to other items or finished products, such as a component or material used in making a finished product.A. TrueB. False
Q.21.
demand for an item that is directly related to other items or finished products, such as a components or material used in making a finished product
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    Demand Planning
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    Personal Insight
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    Dependent Demand
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    Independent Demand