Question

1. To develop a cause and effect model between demand and other variables, we use _____________ methods.

		reactive
		mean average
		median
		none of the above

2. Information sharing in supply chain during planning and forecasting is represented by _____.

		statistics of mean, mode
		statistics of mean, median
		data pattern
		none of the above

3. When a new average is computed from an old one along with the most recent observed demand is called __________.

		averaging smoothing
		median smoothing
		exponential smoothing
		none of the above

4. The best predictive model is one that describes underlying time series, while ______________ the data.

		relative average force fitting
		not force-fitting
		average force fitting
		none of the above

Answer 1

Question 1.

To develop a cause and effect model between demand and other variables, we use _____________ methods.

		reactive
		mean average
		median
		none of the above

Answer - None of the above.

Reactive method will be used for doing analysis post an event has happened.

Mean average and Mean will be used for doing data analysis and will not be applicable in this situation

Question 2 .

2. Information sharing in supply chain during planning and forecasting is represented by _____.

		statistics of mean, mode
		statistics of mean, median
		data pattern
		none of the above

Answer :data pattern

By doing study of data pattern. Analyzing past and present data trends can actually help an organization in doing accurate forecasting and planning .

3. When a new average is computed from an old one along with the most recent observed demand is called __________.

		averaging smoothing
		median smoothing
		exponential smoothing
		none of the above

Answer:None of the above

Averaging smoothing : Also known as moving average..This method is used to determine trends .It basically helps in consolidating monthly data points into longer units of time...In nutshel, Average of several months data

Median Smoothing:

This method helps in  finding median of a number of points .. For example you have three points 2, 8 and 6 . to find the median , you must put these points in order 2, 6 and 8. the median of this data set will be 6.  

Exponential smoothing

This technique helps in smoothing time series data . This technique is often used for analysis of time - series data . It is an easily learned and easily applied procedure for making some determination based on prior assumptions , such as seasonality.

4. The best predictive model is one that describes underlying time series, while ______________ the data.

		relative average force fitting
		not force-fitting
		average force fitting
		none of the above

Answer : none of the above