If Brandon Edward Were Working to Develop a Forecast Using

question 28

Multiple Choice

If Brandon Edward were working to develop a forecast using a moving averages approach, but he noticed a detectable trend in the historical data, he should

• A) use weights to place more emphasis on recent data
• B) use weights to minimize the importance of the trend
• C) change to a naïve approach
• D) use a simple moving average
• E) change to a qualitative approach

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Definitions:

Hire/Layoff Workers

Hiring and laying off workers are human resources management actions involving the appointment of new staff members and the dismissal of existing employees, respectively, usually based on the company’s current demand and financial situation.

Aggregate Planning

The method of creating, examining, and keeping an initial, rough plan of an organization's total activities.

Level Scheduling

A manufacturing process management technique aimed at producing goods at a constant rate to avoid fluctuations in production and inventory levels.

Hire/Layoff Workers

The process of recruiting and integrating new employees into a company, or conversely, reducing the workforce through terminations due to economic or organizational reasons.