of NO CREDIT Name 1. Which of the following generalized principles about forecas
ID: 365289 • Letter: O
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of NO CREDIT Name 1. Which of the following generalized principles about forecasting discussed in class is false? a. Forecasts are rarely perfect. b. Forecasts are typically more accurate for longer term time horizons than shorter term horizons. c. Forecasts are more accurate for groups or families of items rather than individual items. d. No one forecast method (model) will always perform best. For questions 2-4 use the following weekly historical demand and forecast data information. Week Sept. 13-Sept. 19 Sept. 20-Sept. 26 Sept. 27- Oct. 3 Oct. 4 Oct. 10 Oct. 11-Oct. 17 Demand 24 19 27 25 31 2. Using a simple three-period simple moving average forecast model, what would be the forecast of demand for next week, the week of October 18 - October 24? 3. Using a three-period, weighted moving average forecast model with weights of 0.50, 0.30, and 0.20 (remember, weights decline for older demand observations), what would be the forecast of demand for the week October 18- October 24? 4. If you were using a simple exponential smoothing forecast model ( equal to 0.20) which generated a forecast of 25.10 units for the current week October 11-17, what would be your forecast of demand for next week, the week October 18-24? Remember: Fra-, + (I-a)F, 5. Various MPS practices were discussed in class. From the following statements, identify which is false. a. Backward loading refers to the practice of allocating capacity to an order working from its due date back towards the present time. b. A "level" MPS attempts to utilize varying employment levels (or possibly employment utilization rates) to absorb fluctuations in demand. c. A "chase" or "matching" MPS attempts to equalize production and demand rates in each production planning period. d. Forward loading refers to the practice of allocating capacity to an order working from the present time into the future given lead time requirements. e. The tw o broad objectives of a MPS are to meet demand and to minimize costs. activities. Which of the following is not an the execution cyele consists of various 6. As discussed in class activity in the execution cycle? e. Assembly c. Postponement d. Fabrication a. Distribution b Purchasing (procurementExplanation / Answer
1-b. Forecasting longer term is not perfect than shorter term because in longer term uncertainities are more as compare to shorter term.
2-(27+25+31)/3=83/3=28
3-0.5*31+0.3*25+0.2*27=15.5+7.5+5.4=28
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