Question 1

What is the forecast for May, based on a weighted moving average applied to the following past-demand data and using the weights of 3, 2, and 1 (largest weight is for most recent data)?

Nov.  Dec.  Jan.  Feb.  March  April

91  140  98  110  123  10

•  44.1
•  110.7
•  108.8
•  110.33

Question 2

Jim's department at a local department store has tracked the sales of a product over the last 10 weeks using exponential smoothing with an alpha of 0.3. In January, he forecasted $150,000 in sales and achieved $155,000 is sales. Using this same forecasting model, estimate Jim’s February sales.

 $152,000

 $155,000

 $151,500

 $105,000

Question 3

Using a 3-year moving average, forecast the amount for Year 10.

Year  Demand

1  74

2  90

3  59

4  91

5  140

6  98

7  120

8  123

9  99

•  Year 10 = 122.87
•  Year 10 = 99.98
•  Year 10 = 110.67
•  Year 10 = 114

Question 4

Which of these statements best describes virtual reality technology?

•  It substitutes images for the real thing in a visual form of communication.
•  It is the use of special computer programs to direct and control manufacturing equipment.
•  It is the ability to depict objects in three-dimensional form.
•  It is a visual form of communication in which products are substituted for the real thing.          

Question 5

A product's life cycle is divided into four stages, which are

•  maturity, decline, introduction, and growth.
•  introduction, growth, stability, and decline.
•  introduction, maturity, saturation, and decline.
•  introduction, growth, maturity, and decide.
•  None of the above          

Question 6

Forecasts are usually classified by time horizon into three categories. What are they?

•  Short range, medium short, and long range
•  Finance and accounting, marketing, and operations
•  Strategic, tactical, and operational
•  Exponential smoothing, regression, and time series
•  Long range, medium range, and short range    

Question 7

Which product life cycle phase has the following characteristics: established competitors, stable product sales, and improved cost control?

•  Maturity
•  Introduction
•  Decline
•  Growth
•  None of the above

Question 8

The specific components inputted into the fourth house in the house of quality are satisfied by

•  the quality plan.
•  customer requirements.
•  design characteristics.
•  the production process.

Question 9

What is the fundamental difference between cycles and seasonality?

•  How often the patterns are changed
•  Magnitude of the variation
•  Ability to attribute the pattern to a cause
•  All of the above
•  None of the above

.

Question 10

Which of these statements best describes computer-aided design (CAD)?

•  It is the interactive use of computers to design a product and prepare engineering documentation.
•  It is the use of special computer programs to direct and control manufacturing equipment.
•  It is the ability to depict objects in three-dimensional form.
•  It is a visual form of communication in which images substitute for the real thing.