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Question
Which of the following statements about time-series forecasting is true?
A) It is always based on the assumption that future demand will be the same as past demand.
B) It makes extensive use of the data collected in the qualitative approach.
C) It is based on the assumption that the analysis of past demand helps predict future demand.
D) Because it accounts for trends, cycles, and seasonal patterns, it is always more powerful than associative forecasting.
E) All of the above are true.
Answer
This answer is hidden. It contains 19 characters.
Related questions
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Q:
The tracking signal is the:
A) standard error of the estimate.
B) absolute deviation of the last period's forecast.
C) MAD.
D) ratio of cumulative error / MAD.
E) MAPE.
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A) immediate rivals
B) potential entrants
C) customers
D) suppliers
E) all of the above
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Service organizations can immerse the consumer in the service, or have the consumer become a participant in the service, as they practice ________.
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Production processes are being dispersed to take advantage of national differences in labor costs.
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Consumer's risk is the probability of:
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B) rejecting a good lot.
C) rejecting a bad lot.
D) accepting a bad lot.
E) none of the above
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The probability of rejecting a good lot is known as consumer's risk.
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Because most services cannot be inventoried, there is little place for JIT to help service organizations achieve competitive advantage.
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Lean operations are known for their:
A) employee development.
B) supplier education.
C) supplier partnerships.
D) challenging jobs.
E) All of the above are attributes of lean operations.
Q:
Wheeled Coach uses ________ as the catalyst for low inventory, high quality, tight schedules, and accurate records.
Q:
Demand for a given item is said to be dependent if:
A) it originates from the external customer.
B) there is a deep bill of material.
C) the finished products are mostly services (rather than goods).
D) there is a clearly identifiable parent.
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Q:
Industries in which revenue management techniques are easiest to apply are those where:
A) use tends to be predictable, and pricing tends to be fixed.
B) use tends to be predictable, and pricing tends to be variable.
C) use tends to be uncertain, and pricing tends to be fixed.
D) use tends to be uncertain, and pricing tends to be variable.
E) All of the above, i.e., there is no difference.
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________ rely on a variety of supplier relationships to provide services on demand.
Q:
Which of the following is not a limitation of job expansion?
A) higher capital cost
B) higher wage rates
C) smaller labor pool
D) higher training costs
E) All of the above are limitations of job expansion.
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When a worker obtains clear and timely information about his/her performance, his/her job includes which of the following characteristics?
A) feedback
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C) job identity
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Which of Hackman and Oldham's five job characteristics refers to providing a worker a say in the work methods that he/she wishes to utilize?
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Q:
Profit-sharing is a motivation and incentive system where executives receive stock options.
Q:
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A) estimate the trend line.
B) eliminate forecast errors.
C) measure forecast accuracy.
D) seasonally adjust the forecast.
E) remove random variations.
Q:
Which of the following is NOT a key benefit of MRP?
A) increased quality
B) better response to customer orders
C) faster response to market changes
D) improved utilization of facilities and labor
E) reduced inventory levels
Q:
Demand for a given item is said to be dependent if:
A) it originates from the external customer.
B) there is a deep bill of material.
C) the finished products are mostly services (rather than goods).
D) there is a clearly identifiable parent.
E) the item has several children.
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The aggregate planning process usually includes dispatching of individual jobs.
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What is the primary management challenge when implementing revenue management?
Q:
Weight Day
Package 1
Package 2
Package 3
Package 4 Monday
23
22
23
24 Tuesday
23
21
19
21 Wednesday
20
19
20
21 Thursday
18
19
20
19 Friday
18
20
22
20 (a) If he sets an upper control limit of 21 and a lower control limit of 19 around the target value of twenty ounces, the control chart is based on what value of z?
(b) With the UCL and LCL of part a, what do you conclude about this processis it in control?
Answer:
Q:
What is the difference between natural and assignable causes of variation?
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What are the three possible results (or findings) from the use of control charts?
Q:
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A) 18.18% of the throughput time
B) 100% of the throughput time
C) 550% of the throughput time
D) 50% of the throughput time
E) 1.82% of the throughput time