Combine forecasts from approaches that are similar. A group of international experts published a set of principles of forecasting that includes all of the following except
a. Use quantitative rather than qualitative methods.
b. Combine forecasts from approaches that are similar.
c. Ask experts to justify their forecasts in writing.
d. Use multiple measures of forecast accuracy.
Answer: B
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- When the average unit cost of a good or service decreases as the capacity and/or volume of throughput increases, it is called ____.
- Which of the following is a short-term capacity decision?
- In service organizations, capacity is more often viewed as ____.
- C&M Machining is developing plans for a dedicated production line and needs to determine how many drill presses will be needed. Engineering estimates are that one drill press will be able to process 120 parts per hour. Daily demand is 2,400 parts. C&M operates one 8-hour shift per day. How many drill presses are needed to meet the capacity requirements?
- Safety capacity or a capacity cushion is
- The long-term capacity expansion strategy that can be called a capacity straddle strategy is
- Safety capacity is intended for all of the following except
- Average safety capacity (%) is computed as
- Which of the following is not a valid approach to gathering data for judgmental forecasting?
- Exponential smoothing...
- Which of the following is not a statistical method?
- Repeatable periods of ups and downs over short periods of time are called ____.
- ___ forecasts are needed for planning production schedules and to assign workers to jobs.
- A tracking signal provides a method for quantifying forecast
- Using a smoothing constant of 0.1 in Delphi methods of forecasting. All of the following are important concepts in forecasting except
- Company records Which of the following is not a valid approach to gathering data for judgmental forecasting?
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