Forecasting techniques MCQs in Supply Chain

MCQs on Forecasting Techniques in Supply Chain

Which forecasting technique relies on expert judgment rather than numerical data?
- a) Time series analysis
- b) Delphi method
- c) Exponential smoothing
- d) Linear regression
- Answer: b) Delphi method
What is the main advantage of using quantitative forecasting methods over qualitative methods?
- a) They are easier to implement
- b) They rely on expert opinions
- c) They provide objective, data-driven predictions
- d) They require less historical data
- Answer: c) They provide objective, data-driven predictions
Which forecasting method involves calculating an average of past data points to predict future values?
- a) Linear regression
- b) Exponential smoothing
- c) Moving average
- d) Delphi method
- Answer: c) Moving average
Which of the following best describes the exponential smoothing forecasting method?
- a) It assigns equal weight to all past observations
- b) It gives more weight to recent observations
- c) It uses a straight-line approach to predict future values
- d) It relies on subjective judgment
- Answer: b) It gives more weight to recent observations
What is the primary use of a time series analysis in forecasting?
- a) To identify patterns and trends in historical data
- b) To gather expert opinions
- c) To compare competitor pricing
- d) To assess market conditions
- Answer: a) To identify patterns and trends in historical data
Which of the following is a key characteristic of the moving average method?
- a) It smooths out short-term fluctuations
- b) It heavily relies on long-term trends
- c) It is best used for data with no seasonal patterns
- d) It gives more weight to older data
- Answer: a) It smooths out short-term fluctuations
Which technique uses historical data to predict future demand by establishing a relationship between dependent and independent variables?
- a) Time series analysis
- b) Exponential smoothing
- c) Linear regression
- d) Moving average
- Answer: c) Linear regression
What is the primary purpose of using a naive forecasting method?
- a) To create complex models
- b) To use the most recent period’s data as the forecast for the next period
- c) To gather input from multiple experts
- d) To analyze seasonal variations
- Answer: b) To use the most recent period’s data as the forecast for the next period
Which of the following methods is best suited for forecasting when historical data is limited or unavailable?
- a) Time series analysis
- b) Delphi method
- c) Moving average
- d) Exponential smoothing
- Answer: b) Delphi method
What does the term “seasonal index” refer to in the context of forecasting?
- a) A measurement of random variations in data
- b) A factor used to adjust forecasts for predictable seasonal fluctuations
- c) An indicator of long-term trends
- d) A technique to minimize forecast errors
- Answer: b) A factor used to adjust forecasts for predictable seasonal fluctuations

Forecasting techniques MCQs in Supply Chain

MCQs on Forecasting Techniques in Supply Chain

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