Complete the following 10 multiple choice questions

QUESTION 1

1. The ____________ is more sensitive to large deviations than the mean square error.

   		A. seasonal variation
   		B. the mean absolute deviation
   		C. mean square error
   		D. the seasonable factor

4 points

QUESTION 2

1. The mean absolute deviation is the sum of the absolute value of forecasting errors divided by the number of _________.

   		A. forecasts
   		B. strategies
   		C. forecasting errors
   		D. All of the above

4 points

QUESTION 3

1. Using the latest value in a sequence of data to forecast the next period is:

   		A. a moving-average forecast
   		B. a last-value forecast
   		C. a casual forecast
   		D. an exponentially smoothed forecast

4 points

QUESTION 4

1. Given forecast errors of 8, 10, and 9, what is the mean absolute deviation?
   

   		A. 2/3
   		B. 1/3
   		C. 1
   		D. 0

4 points

QUESTION 5

1. Given forecast errors of 3, 6, and 9, what is the mean square error?

   		A. 5
   		B. 6
   		C. 7
   		D. 8

4 points

QUESTION 6

1. Refer to the following data:

   Period Demand
   1 23
   2 23
   3 45
   4 72What is the last-value forecast for the next period?

   		A. 23
   		B. 72
   		C. 73
   		D. 61

4 points

QUESTION 7

1. Refer to the following data:
   Period Demand
   1 12
   2 13
   3 14
   4 15What is the moving-average forecast for the next period based on the last three periods

   		A. 12
   		B. 13
   		C. 14
   		D. 15

4 points

QUESTION 8

1. Time-series data may exhibit which of the following behaviors?

   		A. Trend
   		B. Seasonality
   		C. Cycles
   		D. All of the above

4 points

QUESTION 9

1. In business, forecasts are the basis for __________

   		A. sales
   		B. budgeting
   		C. production
   		D. all of the above

4 points

QUESTION 10

1. The averaging method uses _______ data points in the time-series.

   		A. partial
   		B. all the
   		C. 20% of the
   		D. All of the above