One use of short-range forecasts is to determine:
A) Planning for new products.
B) Capital expenditures.
C) Research and development plans.
D) Facility location. E) Job assignments.
A forecast with a time horizon of about 3 months to 3 years is typically called a
A) Long-range forecast.
B) medium-range forecast.
C) Short-range forecast.
D) Weather forecast.
E) Strategic forecast
Short-range forecasts tends to longer-range forecasts.
A) be less accurate than
B) be more accurate than
C) Have about the same level of accuracy as
D) Employ the same methodologies as
E) Deal with more comprehensive issues than
A time-series model uses a series of past data points to make the forecast.
A) True
B) False
The forecasting technique that pools the opinions of a group of experts or managers is known as:
A) The expert judgment model.
B) Multiple regression.
C) Jury of executive opinion.
D) Market survey
E) Management coefficients.
Time-series data may exhibit which of the following behaviours?
A) Trend
B) Random variations
C) Seasonality
D) Cycles
E) They may exhibit all of the above.