Ch4 Forecasting

A naïve forecast for September sales of a product would be equal to the forecast for August.

• true

• false

The forecasting time horizon and the forecasting techniques used tend to vary over the life cycle of

a product.

• true

• false

Demand (sales) forecasts serve as inputs to financial, marketing, and personnel planning.

• true

• false

Forecasts of individual products tend to be more accurate than forecasts of product families.

• true

• false

Most forecasting techniques assume that there is some underlying stability in the system.

• true

• false

The sales force composite forecasting method relies on salespersons’ estimates of expected sales.

• true

• false

A time-series model uses a series of past data points to make the forecast.

• true

• false

The quarterly "make meeting" of Lexus dealers is an example of a sales force composite forecast.

• true

• false

Cycles and random variations are both components of time series.

• true

• false

A naive forecast for September sales of a product would be equal to the sales in August.

• true

• false