- Description
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.