Exam 2 - Exam Review

Question 1

Make sure you know the difference between forecast and error measure

Answer 1

-

Question 2

throughput is measured in

Answer 2

units

Question 3

if you are making 60 units in an hr the cycle time is

Answer 3

1

Question 4

You can convert the throughput into ______ ______ but you can’t convert into _____ _____

Answer 4

cycle time; flow time

Question 5

flow time

Answer 5

the sum of past times?

Question 6

if they want to produce more throughput will _______

Answer 6

increase (go higher)

Question 7

Test question: Simple moving average

k=3 to forecast for May

Answer 7

You need the average for January, February, March, and April

Question 8

Which one is more accurate

Answer 8

you always look to the measure that is closer to 0

Question 9

BIAS problem

Answer 9

the negative side of BIAS is that you will run into problems when it’s negative

Question 10

A bias of negative 2. How do you interpret

Answer 10

On average you forecast too high that’s why I end up with a negative number

Question 11

A bias of 5. How do you interpret

Answer 11

On average my forecast is too low

Question 12

On average my forecast is off by 7 units. What errror measure is it?

Answer 12

Mean absolute deviation

Question 13

On average my forecast is off by 5%

what’s the error measure

Answer 13

mean absolute percent error

Question 14

Mean square error units:

Answer 14

Units ^2

• duh idk why he talked about this lol
• cause he fucken retarted…..