Week 1 Quiz

8/8/2017 Coursera | Online Courses From Top Universities.
Join for Free | Coursera
Newsvendor and Forecasting Quiz

Quiz, 10 questions
1
point
1.
This question relates to concepts covered in Lectures 1 & 2.
You can use any of the excel les posted to work through the question.
Which of the following statements is a true statement about the Newsvendor

model?
In the Newsvendor model, the ordering decision is made before seeing

the customer demand.
The Newsvendor model can be only applied to vendors who sell

newspapers or magazines.
The Newsvendor model can be used only if unsold units cannot be

salvaged.
In the Newsvendor model, the decision-maker who decides how much to

order, always knows the exact quantity of demand that will happen.
1
point
2.
https://www.coursera.org/learn/wharton-operations-analytics/exam/vRSgo/newsvendor-and-forecasting-quiz 1/9
8/8/2017 Coursera | Online Courses From Top Universities. Join for Free | Coursera

Quiz, 10 questions You can use any of the excel les posted to work through the question.
Demand at a store can be modeled by a random variable which takes the following
values across four di erent scenarios that occur with following probabilities.
Scenario Low: D1 = 10 with probability p_1=0.1
Scenario Medium 1: D2 = 30 with probability p_2=0.4
Scenario Medium 2: D3 = 60 with probability p_3=0.4
Scenario High: D4 = 90 with probability p_4=0.1
What is the mean of this demand distribution?
10
46
90
30
60
52.18
1
point
3.
Consider the demand at a store given by the data in the previous question, i.e., the
demand at a store that can be modeled by a random variable with values and
corresponding probabilities shown in Q2. Which of the following statements about
the standard deviation of the demand distribution is true?
The standard deviation is greater than or equal to 30 but less than 40.
Newsvendor andTheForecasting
standard deviation cannot be calculated for this data.
Quiz
Quiz, 10 questions
1
point
4.
Suppose we have a data set containing n=100 data points with the following
descriptive statistics: mean = 80, and standard deviation = 18. We believe that this
data sample comes from a normal distribution. Which of the following choices
would you use for forecasting or predicting future demand values?
Mean= 81.8 and standard deviation= 18.
Mean= 88 and standard deviation= 27.
Mean= 80 and standard deviation= 19.8.
Mean= 81.8 and standard deviation=19.8.
Mean= 80 and standard deviation= 18.
Mean=88 and standard deviation= 19.8.
1
point
5.
Using DemandData.xlsx le on the course website, and using the Moving averages
Newsvendor and
of 13 Forecasting
method, Quiz the moving averages for periods 81 through
i.e., MA (13), calculate
Quiz, 10 questions 100. In particular, start with forecast for period 81 using data from the previous 13
periods, i.e., from periods 68 through 80. Continue this process till you generate
forecast for period 100. Now calculate errors, the di erences between your
forecasts and the data. What is the Mean Absolute Deviation of these errors?
Choose the closest numerical answer.
34.33
8.46
17.51
7.30
15.00
9.17
1
point
6.
The number of customer requests for car rentals recorded on each day at a Philly
Cars rental location is as follows:
Day Number of Car Rental Requests
Monday 20
Tuesday 30
Wednesday 30
Thursday 40
Friday 60
Start with Wednesday forecast using two-day moving averages MA(2). Using the
errors between forecasted and actual values for Wednesday through Friday,
calculate MAPE. Choose the closest answer from the variants below.
43.6%
21.3%
Newsvendor and15.8%
Forecasting Quiz
Quiz, 10 questions
38.1%
9.3%
27.8%
1
point
7.
This question relates to concepts covered in Sessions 3 and 4.
You can use any of the excel les posted online to work through the Quiz.
Mr. Cal Coolator uses a trend line forecasting model to forecast the daily demand
for 1-quart water bottles at a convenience store based on the average temperature
recorded outside during the day. The demand line is given by
Y=36+4.3*X
where Y = daily number of 1-quart water bottles demanded, and X = ambient

temperature measured in degrees Fahrenheit.
What is the demand forecast for 1-quart water bottles on a day when the average
temperature is 70 degrees Fahrenheit?
407
395
337
380
371
412
353
1
Newsvendorpoint
and Forecasting Quiz
Quiz, 10 questions
8.
Suppose you are a manager at a ski resort in Utah. The ski resort collects and keeps
data on the demand for ski rentals over the past several seasons. Your assistant
observes that the demand has a day-of-the-week e ect (i.e., demand over a week is
highly seasonal or cyclic). He calculates the seasonality factors for all 7 days of the
week. The seasonality factors for Monday through Saturday are 0.8, 0.5, 0.4, 0.8, 1.7
and 1.8 respectively. What is the estimate of the seasonality factor for Sunday?
0.8
0.9
0.4
1.8
1.0
1.7
0.5
1
point
9.

Quiz, 10 questions You can use any of the excel les posted online to work through the Quiz.
The Philadelphia Museums estimate of the number of visitors to its outdoor

sculpture garden during a quarter (3-month period) shows both seasonality and
increasing trend.
The de-seasonalized trend line is D = 770 + 10*t,
where t=1 for Jan 2015 (Winter), t=2 for April 2015 (Spring), t=3 for July 2015
(Summer), t=4 for October 2015 (Fall/Autumn), t=5 for January 2016 and so on.
Suppose the seasonal factors are as follows:
Quarter Factor (Index)
January (Winter) 0.8

April (Spring) 1.1
July (Summer) 1.4
October (Fall/Autumn) 0.7
What is the forecast of the number of visitors for Winter (January) 2017?
(Hint: First use the trend line to calculate the de-seasonal forecast and then apply
the correct seasonal factor for January 2017).
1176
957
688
917
1232
595
1
point
10.
Newsvendor
Thisand Forecasting
question Quiz
relates to concepts covered in Sessions 3 and 4.
Quiz, 10 questions
Sew Good is a fashion apparel chain that sells a variety of clothes in California.
Below are the actual demands and the forecasts that Sew Good recorded for 20 of
their clothing designs from the past season. In the following problem round all the
ratio values to 2 decimal places.
For example, use 0.97 instead of 0.9733 or 0.9689.
Actual Demand Forecast

546 914
639 698
534 518
732 595
699 909
1019 1063
1174 1160
1092 1084
608 776
908 758
1162 938
1300 2108
739 870
941 1278
831 762
915 1270
682 524
799 708
1281 946
640 806
The point forecast for Sew Goods new mood indigo blue jeans the company plans
The point forecast for Sew Goods new mood indigo blue jeans the company plans
to release in the coming season is 1450. Sew Good follows the forecast
methodology we used in Session 4, and uses a normal distribution to forecast the
Quiz, 10 questions
demand for mood indigo jeans, and ts a demand model by studying the
deviations of actual demands from forecasts in the last season using A/F ratios.
What value of the descriptive standard deviation should Sew Good use for tting
the normal distribution? Please choose the closest number.
332
174
251
55
298
120
Upgrade to submit

Week 1 Quiz

Enviado por

Dados do documento

Direitos autorais

Formatos disponíveis

Compartilhar este documento

Compartilhar ou incorporar documento

Opções de compartilhamento

Você considera este documento útil?

Este conteúdo é inapropriado?

Direitos autorais:

Formatos disponíveis

Week 1 Quiz

Enviado por

Direitos autorais:

Formatos disponíveis

8/8/2017 Coursera | Online Courses From Top Universities.

Join for Free | Coursera

Newsvendor and Forecasting Quiz

Which of the following statements is a true statement about the Newsvendor

In the Newsvendor model, the ordering decision is made before seeing

The Newsvendor model can be only applied to vendors who sell

The Newsvendor model can be used only if unsold units cannot be

In the Newsvendor model, the decision-maker who decides how much to

This question relates to concepts covered in Lectures 1 & 2.

Scenario Low: D1 = 10 with probability p_1=0.1

Scenario Medium 1: D2 = 30 with probability p_2=0.4

Scenario Medium 2: D3 = 60 with probability p_3=0.4

Scenario High: D4 = 90 with probability p_4=0.1

What is the mean of this demand distribution?

Mean= 81.8 and standard deviation= 18.

Mean= 88 and standard deviation= 27.

Mean= 80 and standard deviation= 19.8.

Mean= 81.8 and standard deviation=19.8.

Mean= 80 and standard deviation= 18.

Mean=88 and standard deviation= 19.8.

Day Number of Car Rental Requests

where Y = daily number of 1-quart water bottles demanded, and X = ambient

This question relates to concepts covered in Sessions 3 and 4.

The Philadelphia Museums estimate of the number of visitors to its outdoor

The de-seasonalized trend line is D = 770 + 10*t,

Suppose the seasonal factors are as follows:

Quarter Factor (Index)

January (Winter) 0.8

October (Fall/Autumn) 0.7

For example, use 0.97 instead of 0.9733 or 0.9689.

Actual Demand Forecast

Você também pode gostar