Question: A naive forecast for September sales of a product would be equal to the forecast for August.

Answer: FALSE

Question: The forecasting time horizon and the forecasting techniques used to vary over the life cycle of a product.

Answer: TRUE

Question: Demand (sales) forecasts serve as inputs to financial, marketing, and personnel planning.

Answer: TRUE

Question: Forecasts of individual products tend to be more accurate than forecasts of product families.

Answer: FALSE

Question: Most forecasting techniques assume that there is some underlying stability in the system.

Answer: TRUE

Question: The sales force composite forecasting method relies on salespersons’ estimates of expected sales.

Answer: TRUE

Question: A time-series model uses a series of past data points to make the forecast

Answer: TRUE

Question: The quarterly “make meeting” of Lexus dealers is an example of a sales force composite forecast.

Answer: TRUE

Question: Cycles and random variation are both components of time series.

Answer: TRUE

Question: A naive forecast for September sales of a product would be equal to the sales in August.

Answer: TRUE