Which of the following statements about forecasts is​ true?

forecasts for the near term tend to be more accurate

One qualitative forecasting method bases the forecast for a new product or service on the actual sales history of a similar product or service. An example is forecasting demand for the newest model of iPod by using the demand history from the previous model of iPod. This method is

life cycle analogy

A qualitative forecasting method which brings experts together to jointly discuss and develop forecasts is

panel consensus forecasting

Which of the following statements about forecasts is​ true?

forecasts for groups of products tend to be more accurate

Long-term movement of demand up or down in a time series is

a trend

Structured questionnaires submitted to potential​ customers, often to gauge potential​ demand, are

market surveys

"A set of business​ processes, backed up by information​ technology, in which supply chain partners agree to mutual business objectives and​ measures, develop joint sales and operational​ plans, and collaborate to generate and update sales forecasts and replenishment​ plans" is the definition of

collaborative​ planning, forecasting, and replenishment​ (CPFR)

The situation is vague and little data​ exists, as in the case of new products or technologies. In this​ case, which of the following forecasting approachs is​ used?

qualitative method

​"An estimate of the future value of some​ variable" is the definition of

a forecast

Which of the following statements about forecasts is​ true?

forecasts are no substitute for calculated values

Unpredictable movement of demand from one period to the next in a time series is

randomness

Collaborative​ planning, forecasting, and replenishment systems perform many necessary supply chain processes. Which of the following typically does NOT fall under the scope of a CPFR​ system?

development of a layout and process choice

Which of the following statements about forecasts is​ true?

forecasts are almost always wrong

A qualitative forecasting method which utilizes individuals familiar with specific market​ segments, has them estimate the demand within these​ segments, and adds the forecasts together to get an overall forecast is

build-up forecasting

A qualitative forecasting method which utilizes structured questionnaires submitted to potential customers soliciting opinions about potential products to estimate likely demand is

market surveys

One qualitative forecasting method uses experts working individually. The individual forecasts are shared among the​ group, after which each participant is allowed to modify his or her forecast based on the shared information. This method is

Delphi

Refrigerant​ R-12 was to be phased out as manufacturers switched systems to the environmentally friendly but more expensive GHG. Refrigeration repairmen consulted their forecasting models and unanimously concluded that they should stockpile​ R-12 while it was still affordable.These forecasting models could be classified as

price forecasts

The situation is stable and historical data​ exists, as in the case of mature products or technologies. In this​ case, which of the following forecasting approachs is​used?

quantitative method