Forecasting

Considering the actual demand and the forecast for a product given in the table below, the mean forecast error and the mean absolute deviation, respectively, are $$ \begin{array}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \text { P...

An electric car manufacturer underestimated the January sales of car by 20 units, while the actual sales was 120 units. If the manufacturer uses exponential smoothing method with a smoothing constant of α = 0.2, then the...

The demand for a two-wheeler was $$900$$ units and $$1030$$ units in April $$2015$$ and May $$2015,$$ respectively. The forecast for the month of April $$2015$$ was $$850$$ units. Considering a smoothing constant of $$0....

For a canteen, the actual demand for disposable cups was $$500$$ units in January and $$600$$ units in February. The forecast for the month of January was $$400$$ units. The forecast for the month of March considering sm...

In exponential smoothening method, which one of the following is true?

In simple exponential smoothing forecasting, to give higher weightage to recent demand information, the smoothing constant must be close to

The demand and forecast for February are $$12000$$ and $$10275,$$ respectively. Using single exponential smoothening method (smoothening coefficient $$= 0.25$$), forecast for the month of March is

Which of the following forecasting methods takes a fraction of forecast error into account for the next period forecast?

A moving average system is used for forecasting weekly demand. $${F_1}\left( t \right)$$ and $${F_2}\left( t \right)$$ are sequences of forecasts with parameters $${m_1}$$ and $${m_2}$$, respectively, where $${m_1}$$ and...

The sales of a product during the last four years were $$860, 880, 870$$ and $$890$$ units. The forecast for the fourth year was $$876$$ units. If the forecast for the fifth year, using simple exponential smoothing, is e...

For a product, the forecast and the actual sales for December $$2002$$ were $$25$$ and $$20$$ respectively. If the exponential smoothing constant $$(\alpha )$$ is taken as $$0.2,$$ then forecast sales for January $$2003$...

The sale of cycles in a shop in four consecutive months are given as $$70, 68, 82 95.$$ Exponentially smoothing average method with a smoothing factor of $$0.4$$ is used in forecasting. The expected number of sales in th...

A regression model is used to express a variable $$Y$$ as a function of another variable $$X.$$ this implies that

A regression model is used to express a variable $$Y$$ as a function of another variable $$X.$$ This implies that

When using a simple moving average to forecast demand, one would

In a time series forecasting model, the demand for five time periods was $$10, 13,$$ $$15,$$ $$18$$ and $$22.$$ A linear regression fit resulted in an equation $$F = 6.9 + 2.9$$ $$t$$ where $$F$$ is the forecast for peri...

Which one of the following forecasting techniques is not suited for making forecasts for planning production schedules in the short range?

The most commonly used criteria for measuring forecast error is

In a forecasting model, at the end of period $$13,$$ the forecasted value for period $$14$$ is $$75.$$ Actual value in the periods $$14$$ to $$16$$ are constant at $$100$$. if the assumed simple exponential smoothing par...

Which of the following is a technique for forecasting?