The two general approaches to forecasting are a. qualitative and quantitative b. mathematical and statistical c. judgmental and qualitative d. historical and associative e. judgmental and associative Which of the following uses three types of participants: decision makers, staff personnel, and respondents? a. executive opinions b. sales force composites c. the Delphi method d. consumer surveys e. time series analysis Which of the following is not a type of qualitative forecasting? a. executive opinions b. sales force composites c. consumer surveys d. the Delphi method e. moving average The forecasting model that pools the opinions of a group of experts or managers is known as the a. sales force composition model b. multiple regression c. jury of executive opinion model d. consumer market survey model e. management coefficients model Which of the following techniques uses variables such as price and promotional expenditures, which are related to product demand, to predict demand? a. associative models b. exponential smoothing c. weighted moving average d. simple moving average e. time series Which of the following statements about time-series forecasting is true? a. It is based on the assumption that future demand will be the same as past demand. b. It makes extensive use of the data collected in the qualitative approach. c. The analysis of past demand helps predict future demand. d. Because it accounts for trends, cycles, and seasonal patterns, it is more powerful than causal forecasting. Time-series data may exhibit which of the following behaviors? a. trend b. random variations c. seasonality d. cycles e. all of the above
Gradual, long-term movement in time-series data is called a. seasonal variation b. cycles c. trends d. exponential variation e. random variation Which of the following is not present in a time series? a. seasonality b. operational variations c. trend d. cycles e. random variations The fundamental difference between cycles and seasonality is the a. duration of the repeating patterns b. magnitude of the variation c. ability to attribute the pattern to a cause d. all of the above In time series, which of the following cannot be...