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Identify two advantages of the moving average forecasting model. Identify two disadvantages of the moving average forecasting model.

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Advantages of the model include: it uses...

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The larger the standard error of the estimate, the more accurate the forecasting model.

A) True
B) False

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What two numbers are contained in the daily report to the CEO of Walt Disney Parks & Resorts regarding the six Orlando parks?


A) yesterday's forecasted attendance and yesterday's actual attendance
B) yesterday's actual attendance and today's forecasted attendance
C) yesterday's forecasted attendance and today's forecasted attendance
D) yesterday's actual attendance and last year's actual attendance
E) yesterday's forecasted attendance and the year-to-date average daily forecast error

F) B) and D)
G) C) and E)

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Linear-regression analysis is a straight-line mathematical model to describe the functional relationships between two dependent variables.

A) True
B) False

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Short-range forecasts tend to ________ longer-range forecasts.


A) be less accurate than
B) be more accurate than
C) have about the same level of accuracy as
D) employ the same methodologies as
E) deal with more comprehensive issues than

F) B) and E)
G) D) and E)

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Forecasts may be influenced by a product's position in its life cycle.

A) True
B) False

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Describe three popular measures of forecast accuracy.

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Measures of forecast accuracy include: (...

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Compare seasonal effects and cyclical effects.

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A cycle is longer (typically several yea...

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