INFORSY Quiz 1 Additional

Question 1

Mean Absolute Deviation (MAD)

Answer 1

Absolute Value of Forecast Error

Question 2

Mean Squared Error (MSE)

Answer 2

Forecast Error Squared

Question 3

Mean Absolute Percent Error (MAPE)

Answer 3

Forecast Error / Actual Demand

Question 4

The higher the MAPE (closer to 100%) is, it indicates _________ .

Answer 4

Higher inaccuracy when it comes to the forecasted value

Question 5

If MAPE is closer to 0%, _________

Answer 5

It indicates a lower forecast error

Question 6

For Holt Winter’s Model, Use Additive when

Answer 6

Seasonal variations are roughly constant throughout the series

Question 7

For Holt Winter’s Model, Use Multiplicative when

Answer 7

Seasonal variations change proportionally to the level of the series.

Question 8

Six Steps of SDLC

Answer 8

1. Systems Planning
2. Systems Analytics
3. Systems Design
4. Systems Testing
5. Systems Implementation
6. Systems Support and Security