QUESTION 6 Forecasting usually involves one of the following considerations. A.

Question

QUESTION 6 Forecasting usually involves one of the following considerations. A. time intervals B. inventory levels C. item price O D. throughput time QUESTION 7 The econometric model is one of the basic demand forecasting models False QUESTION 8 In the context of forecasting MAD stands for what O A. Mothers Against Drunks B. Mad And Devious O C. Mean Absolute Deviation D. Mean Average Deviation QUESTION 9 Mean is the statistical term for the average. O False QUESTION 10 Last period demand simply forecasts for the next period the actual demand that ocoured in the previous period. False

Explanation / Answer

6. option A, time intervals

time intervals are very important in forecasting, because based on that only the forecasting is done according to monthly or yearly forecast or daily as required.

7. False

econometric model involves regression analysis, moving average and naive are more basic forecasting methods.

8. option C, Mean absolute deviation

it is the average of the absolute value of deviations between the forecast and actual data

9. True

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