Demand Patterns Analysis
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Questions and Answers

What is base demand?

  • The long-term average demand for a product or service (correct)
  • The demand influenced by promotions or internal drivers
  • The demand influenced by random variation
  • The short-term average demand for a product or service

    • Which of the following is an example of a trend?

  • Linear and exponential shifts in demand (correct)
  • Seasonal wave patterns
  • Random variation in demand
  • Short-term fluctuations in demand

    • What are cycles in the context of demand patterns?

  • Periodic upward, neutral, or downward shifts in demand lasting longer than one year (correct)
  • Demand influenced by random variation
  • Demand influenced by promotions or internal drivers
  • Short-term fluctuations in demand

    • What is seasonality in the context of demand patterns?

    <p>The large wave effect in demand</p> Signup and view all the answers

    What is random variation in the context of demand patterns?

    <p>The less-than-perfect shape of the waves in demand</p> Signup and view all the answers

    What can increase or decrease base demand?

    <p>Trends, cycles, seasonality, random variation, and promotions or other internal drivers</p> Signup and view all the answers

    What is a trend considered to be?

    <p>A long-term shift with examples like linear and exponential shifts</p> Signup and view all the answers

    What are cycles characterized by?

    <p>Periodic upward, neutral, or downward shifts lasting longer than one year</p> Signup and view all the answers

    What does seasonality refer to?

    <p>The large wave effect in demand</p> Signup and view all the answers

    What characterizes random variation?

    <p>The less-than-perfect shape of waves</p> Signup and view all the answers

    Which type of demand pattern can be predicted based on history and repeats on a calendar basis such as month, week, day of the week, etc.?

    <p>Seasonality</p> Signup and view all the answers

    What is the term used for a fluctuation in data caused by uncertain or random occurrences, which is the unpredictable part of a data series?

    <p>Random Variation</p> Signup and view all the answers

    What are demand patterns that repeat but follow a wavelike pattern that can span multiple years and may change at any time called?

    <p>Cycles</p> Signup and view all the answers

    Which type of demand drivers can give early indication of a trend change?

    <p>Leading indicators</p> Signup and view all the answers

    What are demand drivers that validate a given trend called?

    <p>Lagging indicators</p> Signup and view all the answers

    Which factor of demand variation cannot be explained by other factors and is the unpredictable part of a data series?

    <p>Random Variation</p> Signup and view all the answers

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