Describe the Delphi method of sales forecasting


Describe the Delphi method of sales forecasting

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1. Discuss the objectives of Production Planning and Control.

2. What do you understand by Control phase? Explain the activities under this phase.

3. What are the different demand patterns on which the sales forecasting is based? Explain.

4. Describe the Delphi method of sales forecasting.

5. What is work study? Explain excess time.

6. Explain pre-production procedures with examples.

7. What is inventory management? Explain the systems of inventory management.

8. What is E.R.P. ? Describe different uses and benefits of E.R.P.

9. What are production control techniques? Explain in detail.


Marks: 80 Marks

SECTION A — (4 × 5 = 20 marks)
Answer any Four of the following.
1. Discuss the merits and limitations of naturalistic observation.
2. Discuss the functions of endocrine system.
3. Discuss the role of constancy in perception.
4. Explain the types of memory.
5. Explain the role of reward and punishment in learning.
6. Define stress and its reaction to stress.
7. What are the factors influencing the severity of stress?
8. Explain proactive and retroactive interference.

SECTION B — (4 × 15 = 60 marks)
Answer any FOUR questions.
9. Discuss about the various schools of psychology.
10. Explain the principles of classical conditioning in detail.
11. Evaluate the various techniques of assessing personality.
12. Explain the trait that characterizes a creative person.
13. Explain Fechner’s law in detail.
14. Elucidate the historical development of intelligence testing.
15. Explain about meditative techniques.

Quantitative Techniques

Please attempt any one question out of section A and any 10 questions out of Section B. The section A is for 20 Marks and Section B is for 80 Marks (8 Marks X 10 Questions)
Total Marks – 100
Section A

1. Distinguish between decision making under certainty and decision making under uncertainty. Mention certain methods for solving decision problems under uncertainty. Discuss how these methods can be applied to solve decision problems.

2. Distinguish between probability and non-probability sampling. Elucidate the reasons for the use of non-probability sampling in many situations in spite of its theoretical weaknesses.

3. What are models? Discuss the role of models in decision-making. How can you classify models on the basis of behavior characteristics?

4. What are matrices? How are determinants different from matrices? Discuss few applications of matrices in business.

Section B
Write short notes on any ten of the following:
(a) Concept of Maxima and Minima
(b) Types of classification of data
(c) Pascal Distribution
(d) Multi-stage sampling & Multi-phase sampling
(e) Box-Jenkins Models for Time Series
(f) Determinant of a Square Matrix
(g) Primary and Secondary Data
(h) Bernoulli Process
(i) The Student’s t Distribution
(j) Use of Auto-correlations in identifying Time Series
(K) Absolute value function
(l) Quantiles
(m) Criteria of pessimism in decision theory
(n) Cluster vs. Stratum
(o) Moving average models

(p) Step function
(q) More than type ogive
(r) Subjectivist’s criterion in decision making
(s) Double sampling
(t) Auto regressive models