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WorksheetsCHAPTER 4_FORECASTING AND AGGREGATE PLANNING
Total questions: 10
Worksheet time: 5mins
forecasting is aimed at
reducing risk in decision making
influencing the behavior of organizational resources to implement organizational strategies
maintaining or altering patterns in organizational activities
Forecasts are needed for future economic activities so that
plan changes will reflect the company's capital structure
decisions may support the acquisition of new capital
returns or cash inflows accruing from the investment may be estimated
Expert Opinions
Salespeople who have continual contact with customers is questioned individually about their perceptions of future sales
a panel of experts is questioned individually about their perceptions of future events
A group of managers meets and come up with a forecast
Delphi Method
Salespeople who have continual contact with customers is questioned individually about their perceptions of future sales
A group of managers meets and come up with a forecast
a panel of experts is questioned individually about their perceptions of future events
Consumer Surveys
Salespeople who have continual contact with customers is questioned individually about their perceptions of future sales
a panel of experts is questioned individually about their perceptions of future events
The company conduct their own market surveys
This technique is comprised of individuals from different departments who possess diverse knowledge and experience which will allow them to predicting sales.
Sales force composite
Jury of executives
Delphi Method
Consumer Survey
What would be the forecasted sales for Week 5, using a four-week moving average?
4000
3975
3000
5500
What would be the forecasted sales for Week 6, using a four-week moving average?
4200
3950
3775
6000
The two general approaches to forecasting are
mathematical and statistical
qualitative and quantitative
judgmental and qualitative
historical and associative
Which of the following is not a type of qualitative forecasting?
executive opinions
the Delphi method
moving average
consumer surveys
