OPS 571 Wk 5 – Apply: Week 5 Exam

Complete the Week 5 Exam in McGraw-Hill Connect.

There are no differences in strategic and tactical forecasting. A forecast is a mathematical projection, and its ultimate purpose should make no difference to the analyst.

A facilitating good is something purchased or consumed by the buyer or items provided by the customer.

Which of the following forecasting methodologies is considered a time series forecasting technique?

Multiple Choice

Simple moving average

Market research

Leading indicators

Historical analogy

Simulation

When recovering from a defective service encounter, a botched task calls for material compensation.

In decomposition of time series data, it is relatively easy to identify cycles and autocorrelation components.

Cyclical influences on demand may come from occurrences such as political elections, war, or economic conditions.

In the service-system design matrix, a face-to-face loose specs service encounter is expected to have which of the following?

Multiple Choice

Low sales opportunity

Low production efficiency

High production efficiency

Low degree of customer/server contact

None of these

Choosing how to accommodate customer induced variability in a service business is the decision of the front-line service provider.

Experience and trial and error are the simplest ways to choose weights for the weighted moving average forecasting model.

In exponential smoothing, it is desirable to use a higher smoothing constant when forecasting demand for a product experiencing high growth.

Which of the following forecasting methodologies is considered a causal forecasting technique?

Multiple Choice

Exponential smoothing

Weighted moving average

Linear regression

Historical analogy

Market research

Which of the following is used to describe the degree of error?

Multiple Choice

Weighted moving average

Regression

Moving average

Forecast as a percent of actual

Mean absolute deviation

In business forecasting, what is usually considered a short-term time period?

Multiple Choice

Four weeks or less

More than three months

Six months or more

Less than three months

One year

Which of the following are alternative possible service encounters included in the service-system design matrix?

Multiple Choice

Mail contact

Warranty

Sales call

Field service

None of these

Cyclical influences on demand are often expressed graphically as a linear function that is either upward or downward sloping.

In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand?

Multiple Choice

Cyclical elements

Future demand

Past demand

Inconsistent demand

Level demand

A tracking signal (TS) can be calculated using the arithmetic sum of forecast deviations divided by the MAD.

Which of the following is not a characteristic of a well-designed service system?

rev: 10_20_2017_QC_CS-106207

Multiple Choice

User-friendly

Cost-effective

back office and front office effectively linked

consistency between organization and department

consistency between service systems and firm’s operating focus

A company hires you to develop a linear regression forecasting model. Based on the company’s historical sales information, you determine the intercept value of the model to be 1,200. You also find the slope value is minus 50. If, after developing the model, you are given a value of X = 10, which of the following is the resulting forecast value using this model?

Multiple Choice

700

1,230

1,150

12,000

Customer contact refers to creation of the service.

Qualitative forecasting techniques generally take advantage of the knowledge of experts and therefore do not require much judgment.

In forecasting, RSFE stands for “running sum of forecast errors.”

For every forecasting problem, there is one best forecasting technique.

If the intercept value of a linear regression model is 40, the slope value is 40, and the value of X is 40, which of the following is the resulting forecast value using this model?

Multiple Choice

120

1,600

1,640

2,200

64,000

The value of the smoothing constant alpha in an exponential smoothing model is between 0 and 1.