question 20 (1 point)\nlisten\nin the context of forecasting, the term ____ refers to the tendency of…

question 20 (1 point)\nlisten\nin the context of forecasting, the term ____ refers to the tendency of forecasts to consistently be larger or smaller than the actual values of the time series.\ntrend\nbias\nfad\nvariability\nquestion 21 (1 point)\nlisten\nforecast ____ is the difference between the observed value of the time series and the forecast.\nerror\nconsumption\nprecision\ndensity\nquestion 22 (1 point)\nlisten\n____ are used by operations managers to plan production schedules and assign workers to jobs.\nbalanced scorecards\nintermediate - range forecasts\nshort - range forecasts\ncredit scorecards

question 20 (1 point)\nlisten\nin the context of forecasting, the term ____ refers to the tendency of forecasts to consistently be larger or smaller than the actual values of the time series.\ntrend\nbias\nfad\nvariability\nquestion 21 (1 point)\nlisten\nforecast ____ is the difference between the observed value of the time series and the forecast.\nerror\nconsumption\nprecision\ndensity\nquestion 22 (1 point)\nlisten\n____ are used by operations managers to plan production schedules and assign workers to jobs.\nbalanced scorecards\nintermediate - range forecasts\nshort - range forecasts\ncredit scorecards

Answer

Brief Explanations:

  • For Question 20: In forecasting, bias is the consistent over - or under - estimation of values in a time series.
  • For Question 21: Forecast error is defined as the difference between the observed time - series value and the forecasted value.
  • For Question 22: Short - range forecasts are used by operations managers for production scheduling and job assignment as they provide immediate - term information.

Answer:

Question 20: B. bias Question 21: A. error Question 22: C. Short - range forecasts