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Multiple Choice Quiz
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1.
Which of the following forecasting techniques generates trend forecasts?
A)Delphi method
B)Weighted moving average
C)Moving averages
D)Single factor exponential smoothing
E)None of the above
2.
What is the MAD for forecast errors of +4, -2, +1, -1?
A)0.00
B)0.50
C)1.00
D)1.50
E)2.00
3.
Which one of these is not an element of a good forecast?
A)low cost
B)in writing
C)meaningful units
D)timely
E)measure of accuracy
4.
Select the statement about moving averages and exponential smoothing that is not true.
A)Both tend to lag changes in a time series.
B)Both smooth data.
C)Both involve fairly simple calculations.
D)Both can be used obtain seasonal index numbers.
E)Both are easy to interpret.
5.
Data that have large variation will result in:
A)a low MAD but a high MSE.
B)a high MAD but a low MSE.
C)a high MAD and a high MSE.
D)a low MAD and a low MSE.
E)an equal MAD and MSE.
6.
The cumulative forecast error is important for determining the:
A)Mean squared error.
B)Bias in forecast error.
C)The tend equation.
D)Mean absolute percent deviation.
E)Control limits.
7.
Of these values, the value of α that would track the data most closely is:
A)0
B).01
C).10
D).20
E).30





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