Curvilinear Regression Models Are Often Used in Forecasting When ________

question 29

Multiple Choice

Curvilinear regression models are often used in forecasting when ________.

• A)dummy variables need to be used
• B)the number of independent variables is high
• C)the independent variable is time
• D)the error term is approximately equal to zero

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Definitions:

JIT

Just In Time, a production strategy that aims to reduce in-process inventory and associated carrying costs by producing and delivering products just in time to be sold or used.

Gross Requirements Plan

A schedule that specifies the amount and timing of future material and component requirements necessary to fulfill the production plan.

Net Requirements Plan

An output of the manufacturing planning process that identifies the quantity and timing of future material or product demands based on current inventory levels and scheduled supply.

MRP II

Manufacturing Resource Planning, an integrated method of operational and financial planning for manufacturing companies, an evolution of Material Requirements Planning (MRP).