# IMM 8

4.7 (6 reviews)
1) Which of the following statements is a true statement about forecasting?
I. It must be done by all who wish to meet the demands of the future.
II. Companies who make to order do NOT have to forecast.
A) II only is true.
B) I and II are true.
C) I only is true.
D) Neither I nor II are true.
Click the card to flip 👆
1 / 26
Terms in this set (26)
Which of the following is a true statement about the general principles of forecasting?
A) Forecasts are more accurate for nearer periods of time.
B) Every forecast should include an estimate of error.
C) Forecasts are more accurate for larger groups of items.
D) All of the above are general principles of forecasting.
E) None of the above is a general principle of forecasting.
Which of the following statements is true?
A) Dependent demand items should be forecast.
B) Forecasts for families of products should be built up from individual product forecasts.
C) A forecast for sales next week will not be as accurate as for a year from now.
D) All of the above are true.
E) None of the above is true.
Which of the following statements is true?
A) Forecasts made in dollars for total sales should be used for manufacturing.
B) If we wish to forecast demand, then past sales must be used for the forecast.
C) Forecasts should be made for all items, models, and options manufactured.
D) All of the above are true.
E) None of the above is true.
A firm manufactures a line of vacuum cleaners composed of standard, custom and deluxe models. All are essentially the same except for the options and add-ons. What should they forecast?

A) each model
B) the total of all models
C) each model and add the forecasts together
D) all of the above
E) none of the above
Which of the following statements is true regarding forecasting techniques?
A) Techniques that use external economic indicators are classified as extrinsic.
B) Intrinsic techniques use historical data.
C) Qualitative techniques are based on judgment.
D) All of the above are true.
E) None of the above is true.