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360 Test 2 part 2

Authored by Wayne Hines

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360 Test 2 part 2
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28 questions

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1.

OPEN ENDED QUESTION

30 sec • 1 pt

A sales forecast method based on key managers' best estimates of sales in a given planning horizon refers to a sales force composite.

Evaluate responses using AI:

OFF

Answer explanation

FALSE

2.

OPEN ENDED QUESTION

30 sec • 1 pt

Budgeting offers the sales department all the following advantages except -ensuring a systematic approach to allocating resources -creating awareness of the necessity to coordinate selling -establishing standards for measuring the performance of the sales organization

Evaluate responses using AI:

OFF

Answer explanation

none of the above because all are advantages

3.

OPEN ENDED QUESTION

30 sec • 1 pt

Bernie Skolnik is trying to decide what forecasting method to use. He is especially concerned that the forecasting method be (a) understood by top management and (B) allow for possible changing future market conditions. Mr. Skolnik would be most interested in which of the following criteria for evaluating forecasting methods?

Evaluate responses using AI:

OFF

Answer explanation

comprehensibility and accuracy

4.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

________ is a quantitive forecast whereby the dependent variable is sales, and the independent variable is time.

5.

OPEN ENDED QUESTION

30 sec • 1 pt

Managers evaluate and adjust each salesperson's estimate before combining them to form an overall forecast. All of the following are disadvantages of the sales force composite approach except -it allows estimates to be prepared by products, customers, and territories so that a final, detailed forecast is readily available -it allows salespeople to deliberately underestimate their forecasts so that they can reach their quotas more easily -it yields forecasts based on present rather than future conditions because salespeople often lack the perspective for future planning -it requires a considerable amount of sales force time that otherwise could be spent in the field attracting new customers

Evaluate responses using AI:

OFF

Answer explanation

it allows estimates to be prepared by products, customers, and territories so that a final, detailed forecast is readily available

6.

OPEN ENDED QUESTION

30 sec • 1 pt

Subjective forecasts based on knowledgeable people's opinions instead of being analytically derived refer to

Evaluate responses using AI:

OFF

Answer explanation

non-quantitative forecasting techniques

7.

OPEN ENDED QUESTION

30 sec • 1 pt

A type of moving average that represents the weighted sum of all past numbers in a time series, placing the heaviest weight on the most recent data, is known as

Evaluate responses using AI:

OFF

Answer explanation

exponential smoothing

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