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16 Questions

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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?

The large wave effect in demand Signup and view all the answers

What is random variation in the context of demand patterns?

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

What can increase or decrease base demand?

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

What is a trend considered to be?

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

What are cycles characterized by?

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

What does seasonality refer to?

The large wave effect in demand Signup and view all the answers

What characterizes random variation?

The less-than-perfect shape of waves 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.?

Seasonality 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?

Random Variation 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?

Cycles Signup and view all the answers

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

Leading indicators Signup and view all the answers

What are demand drivers that validate a given trend called?

Lagging indicators 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?