Midterm QMB4680

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The Delphi method used for forecasting A/ uses a panel of experts,whose identities are typically kept confidential from one, another responds to a sequence of questionnaires. Before launching a... new line of toys. Toys inc. used the method of historical analogy to obtain a forecast. In this scenario, toys inc. A/ noted the consumer response to similar previous products to marketing campaigns and used the responses as a basis to predict how the new marketing campaign might fare In forecasting what is an index? A/ It is a single measure that weights multiple indicators and provides measure of overall expectation What is a stream of historical data known as? A/ A time series The data for the number of hand-held gaming devices sold for the past 5 weeks are 15 units, 20 units, 25 units. 30 units and 17 units respectively. The time series appears to be relatively stable, without trend, seasonal, or cyclical effects; thus a moving average model would be appropriate. Setting k = 3 the three- period moving average forecast for week 6 is______. A/ 24 units For the given data, the simple moving average means absolute deviation is______. A/ 14.25 Calculate the value of the mean absolute percentage error for the given data A/ 29.97 If the given time series has no trend and no seasonality, the most appropriate forecasting model to determine the forecast of the time series is the_______ model. A/ Single moving average If the given time series has a trend and no seasonality, the most appropriate forecasting model to determine the forecast of the time series is the_____model. A/ Double exponential smoothing If the given time series has a trend and seasonality, the most appropriate forecasting model to determine the forecast of the time series uses the _____ model. A/ Holt.Winters multiplicative. Indicators are measures that are believed to influence the behavior of variables an individual wishes to forecast. A/ True The indexes in the forecasting indicators provide a complete forecast A/ False A cyclical effect is one that repeats at fixed intervals of time, typically a year, month,week,or day. A/ False If a time series has seasonality but no trend, the most appropriate model used for forecasting is the holt-winters model. A/ False Troista mobile accessories sells mobile apps on their web site. If a customer spends on average, $12 per visit and visits the web site 20 times each year, what is the average non discount gross profit during the customer's lifetime? Given that troista makes a margin of 60 percent on the average bill, with 25 percent of customers not returning each year. A/ $576 Which of the following is necessary to calculate the variable cost of production for the company to develop a profit model? A/ Quantity of item produced In which of the following ways does demand influence profit? A/ It predicts how many units will be sold Which of the following formulas would be used to calculate the net income value using only the data value? A/ =B5-SUM(B6:B11) Calculate the revenue for units sold? A/ $1.786,000 Calculate the projected sales for the first year? A/ 210.000 Which of the following is the value for quantity sold? A/ 51 Calculate the customer arrivals at the metza A/ 380 What will be sheila’s salary in her second year of work at simpson? A/ $78,750 Calculate the total total revenue when the quantity produced us 55,000 and demand is 60,000. [Show More]

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