# 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