OPS 571T Apply Week 5 Exam Assignment 100% Correct (All Possible Question/Answer)
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OPS 571T Apply Week 5 Exam Assignment 100% Correct (All Possible Question/Answer)

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Random errors can be defined as those that cannot be explained by the forecast model being used. Is it true or false? Customer contact refers to creation of the service. Is it true or false? Which of the following considerations is not a factor in deciding which forecasting model a firm should choose? Which of the following is not a strategic use of the service-system design matrix? The term "encounter" is defined by Webster's Dictionary as "meeting in conflict or battle" and is used to also designate meetings between consumers and service systems. Is it true or false? It is not necessary that a well-designed service system be robust. Is it true or false? The service-system design matrix identifies six forms of service encounters. Is it true or false? Regression is a functional relationship between two or more correlated variables, where one variable is used to predict another. Is it true or false? An important aspect of service products is that they cannot be inventoried. Is it true or false? In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand? There are no differences in strategic and tactical forecasting. A forecast is a mathematical projection, and its ultimate purpose should make no difference to the analyst. Is it true or false? Multiple regression analysis uses several regression models to generate a forecast. Is it true or false? A company wants to forecast demand using the weighted moving average. If the company uses two prior yearly sales values (i.e., year 2015= 110 and year 2016= 130), and we want to weight year 2015at 10 percent and year 2016at 90 percent, which of the following is the weighted moving average forecast for year 2017? Poka-yokes are procedures that block the inevitable mistake from becoming a service defect. Is it true or false? The exponential smoothing method requires which of the following data to forecast the future? The "back end" of the service encounter is more important than the "front end" because the "back end" is where most service providers are paid. Is it true or false? A service business is an organization whose primary business requires interaction with customers to produce the service Is it true or false? Random errors in forecasting occur when an undetected secular trend is not included in a forecasting model. Is it true or false? A tracking signal (TS) can be calculated using the arithmetic sum of forecast deviations divided by the MAD. Is it true or false? The work process involved in providing the service must involve the physical presence of the customer in the system. Is it true or false? The customer is (or should be) the second most important focal point of all decisions in a service organization. Is it true or false? In most cases, demand for products or services can be broken down into several components. Which of the following is not considered a component of demand? company has calculated its running sum of forecast errors to be 500, and its mean absolute deviation is exactly 35. Which of the following is the company's tracking signal? Cyclical influences on demand are often expressed graphically as a linear function that is either upward or downward sloping. Is it true or false? If a firm produced a product that was experiencing growth in demand, the smoothing constant alpha (reaction rate to differences) used in an exponential smoothing forecasting model would tend to be which of the following? Random errors in forecasting occur when an undetected secular trend is not included in a forecasting model. Is it true or false? There are no differences in strategic and tactical forecasting. A forecast is a mathematical projection, and its ultimate purpose should make no difference to the analyst. Is it true or false? An implicit service implies psychological benefits that the customer may sense only vaguely. Is it true or false? Which of the following is not one of the basic types of forecasting? Which of the following is a major factor that distinguishes service design and development from manufacturing design and development? A supporting facility is the same thing as a facilitating good. Is it true or false? When recovering from a defective service encounter, poor treatment from a server calls for an apology. Is it true or false? In forecasting, RSFE stands for "running sum of forecast errors." Is it true or false? A central premise of exponential smoothing is that more recent data are less indicative of the future than data from the distant past. Is it true or false? A company wants to forecast demand using the weighted moving average. If the company uses three prior yearly sales values (i.e., year 2014= 160, year 2015= 140, and year 2016= 170), and we want to weight year 2014at 30 percent, year 2015at 30 percent, and year 2016at 40 percent, which of the following is the weighted moving average forecast for year 2017? If a firm produced a standard item with relatively stable demand, the smoothing constant alpha (reaction rate to differences) used in an exponential smoothing forecasting model would tend to be in which of the following ranges RSFE in forecasting stands for "reliable safety function error." Is it true or false? Which of the following forecasting methodologies is considered a qualitative forecasting technique? In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand? Heavy sales of umbrellas during a rain storm is an example of which of the following? A company wants to forecast demand using the simple moving average. If the company uses four prior yearly sales values (i.e., year 2013= 100, year 2014= 120, year 2015= 140, and year 2016= 210), which of the following is the simple moving average forecast for year 2017? Marketing is responsible for fulfilling the service guarantee. Is it true or false? One of the three approaches to delivering on-site service is _____ self service Which of the following is a possible source of bias error in forecasting? Failing to include variables The "back end" of the service encounter is more important than the "front end" because the "back end" is where most service providers are paid. Is it true or false? The standard error of the estimate of a linear regression is not useful for judging the fit between the data and the regression line when doing forecasts. Is it true or false? In exponential smoothing, it is desirable to use a higher smoothing constant when forecasting demand for a product experiencing high growth. Is it true or false? Simple exponential smoothing lags changes in demand. Is it true or false? In causal relationship forecasting, leading indicators are used to forecast occurrences. Is it true or false? A company hires you to develop a linear regression forecasting model. Based on the company's historical sales information, you determine the intercept value of the model to be 1,200. You also find the slope value is minus 50. If, after developing the model, you are given a value of X = 10, which of the following is the resulting forecast value using this model? Which of the following forecasting methods is very dependent on selection of the right individuals who will judgmentally be used to actually generate the forecast? Which one of the following is not a major factor distinguishing service design and development from manufacturing design and development? Cyclical influences on demand may come from occurrences such as political elections, war, or economic conditions. Is it true or false? Which of the following approaches to service design involves the customer to the greatest extent in providing a service (in effect making them “a partial employee”.? Service guarantees can be used at the service design stage to focus the firm's delivery system on the things it must do well to satisfy the customer. Is it true or false? Service guarantees can be used at the service design stage to focus the firm's delivery system on the things it must do well to satisfy the customer. Is it true or false? I n general, which forecasting time frame compensates most effectively for random variation and short-term changes? In the service-system design matrix, a mail contact service encounter is expected to have which of the following? Which of the following approaches to service design involves the customer to the greatest extent in providing a service (in effect making them “a partial employee”.? What is the term for forecasts used for making day-to-day decisions about meeting demand? What category of forecasting techniques uses managerial judgment in lieu of numerical data? Which of the following are significant ways in which service systems differ from manufacturing systems? Decomposition of a time series means identifying and separating the time series data into its components. Is it true or false? In the service-system design matrix, a face-to-face total customization service encounter is expected to have which of the following? Which of the following is not an element of a good service guarantee? In business forecasting, what is usually considered a long-term time period? There are many applications of poka-yokes in service organizations. Which of the following is one of the three-T's used to classify poka-yokes? An important aspect of service products is that they cannot be inventoried. Is it true or false? Poka-yoke is roughly translated from Japanese as "avoid mistakes." Is it true or false? Marketing is responsible for fulfilling the service guarantee. Is it true or false? Which of the following is not a strategic use of the service-system design matrix? A characteristic of a well-designed service system is that it manages the evidence of service quality in such a way that customers are aware of the value of the service provided. Is it true or false? A ride at an amusement park is an example of a service operation where there is direct contact between the customer and server, but little variation in the service process—neither the customer nor server has much discretion in how the service will be provided. As shown on the Service System Design Matrix, which type of service is being delivered? Which of the following is not one of the basic types of forecasting? A company wants to generate a forecast for unit demand for year 2017using exponential smoothing. The actual demand in year 2016was 120. The forecast demand in year 2016was 110. Using these data and a smoothing constant alpha of 0.1, which of the following is the resulting year 2017forecast value? A company wants to forecast demand using the weighted moving average. If the company uses two prior yearly sales values (i.e., year 2015= 110 and year 2016= 130), and we want to weight year 2015at 10 percent and year 2016at 90 percent, which of the following is the weighted moving average forecast for year 2017? Multiple regression analysis uses several regression models to generate a forecast. Is it true or false? Multiple regression analysis uses several regression models to generate a forecast. Is it true or false? Which one of the following is not a major factor distinguishing service design and development from manufacturing design and development? Given a prior forecast demand value of 1,100, a related actual demand value of 1,000, and a smoothing constant alpha of 0.3, what is the exponential smoothing forecast value? What is the term for forecasts used for making day-to-day decisions about meeting demand? Develop a forecast for the fourth quarter using a three quarter, weighted moving average. Weight the most recent quarter .5, the second most recent .25 and the third .25. Do the problem using quarters, as opposed to forecasting separate months. (Round your answer to 2 decimal places.) Which of the following are significant ways in which service systems differ from manufacturing systems? A ride at an amusement park is an example of a service operation where there is a direct contact between the customer and the server, but little variation in the service process-neither the customer nor the server has much discretion in how the service will be provided. As shown on the Service System Design Matrix, which type of service is being delivered? Which of the following is not one the basic types of forecasting? A company wants to forecast demand using the simple moving average. I the copany uses four prior yearly sales values(i.e., year 2013= 100, year 2014= 120, year 2015= 140 and year 2016= 210), which of the following is the simple moving average forecast for year 2017? Which of the following forecasting methods uses executive judgment as its primary component for forecasting? Which one of the following is not a major factor distinguishing service design and development from manufacturing design and development? Which of the following is considered a high-contact service operations? Which of the following approaches to service design involves the customer to the greatest extent in providing a service in effect making them “a partial employee”? Forecast can be made more… Many demand planners will make several forecasts under different scenarios and then apply their business judgment to make a recommendation that is somewhere in between. Is it true or false? If a three month-moving average moving average is used to smooth this series, what would have been the forecast for May? As the degree of customer contact in a service operation, what generally happens to the efficiency of the operation? Are service operations with a high degree of customer contact more or less difficult to control than those with a low degree of customer contact? Which of the following is not one of the basic types of forecasting? A company has calculated its running sum of forecast errors to be 500, and its mean absolute deviation is exactly 35. Which of the following is the company’s tracking signal?

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