Assignment: Forecasting and Strategic Capacity Management - Quiz

Question 1. In most cases, demand for products or services can be broken down into several components. Which of the following is not considered a component of demand?
Average demand for a period
A trend
Seasonal elements
Past data
Autocorrelation

Question 2. In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand?
Cyclical elements
Future demand
Past demand
Inconsistent demand
Level demand

Question 3. Which of the following forecasting methodologies is considered a time series forecasting technique?
Simple moving average
Market research
Leading indicators
Historical analogy
Simulation

Question 4. In business forecasting, what is usually considered a short-term time period?
Four weeks or less
More than 3 months
Six months or more
Less than 3 months
One year

Question 5. In business forecasting, what is usually considered a long-term time period?
Three months or longer
Six months or longer
One year or longer
Two years or longer
Ten years or longer

Question 6. Which of the following forecasting methods can be used for short-term forecasting?
Simple exponential smoothing
Delphi technique
Market research
Hoskins-Hamilton smoothing
Serial regression

Question 7. Capacity planning involving acquisition or disposal of fixed assets, such as buildings, equipment, or facilities, is considered as which one of the following planning horizons?
Intermediate-range
Long-range
Short-range
Current
Upcoming

Question 8. If the actual output of a piece of equipment during an hour is 500 units and it's best operating level is at a rate of 400 units per hour, which of the following is the capacity utilization rate?
0.75
1.00
1.25
1.33
100

Question 9. The way to build greater flexibility in your workers is to do which of the following?
Pay higher wages to motivate a willingness to do a variety to tasks
Provide a broader range of training
Provide a wide variety of technology to augment workers skills
Institute a "pay for skills" program
Use part-time employees with specialized skills as needed

Question 10. Which of the following models uses a schematic model of the sequence of steps in a problem and the conditions and consequences of each step?
Probability indexing
Johnson's sequencing rule
Decision trees
Activity System Maps
Decision mapping.