UCF QMB3200 MIDTERM EXAM QUESTIONS WITH CORRECT ANSWERS
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Course
UCF QMB 3200
Institution
UCF QMB 3200
Which of the following statements regarding a time series technique is true? - ANS Time series techniques focus on the historical behavior of some outcome of interest to predict its future behavior.
Which time series technique predicts a future value by combining the previous prediction and ...
, Which of the following statements regarding a time series technique is true? - ANS Time
series techniques focus on the historical behavior of some outcome of interest to predict its
future behavior.
Which time series technique predicts a future value by combining the previous prediction and
some portion of the error in the prediction? - ANS Simple exponential smoothing
Which of the following correlation coefficient values represents the strongest positive correlation
K
between two factors in a data set? - ANS r-=0.931
It is NOT possible for a forecast to be both responsive and inaccurate. - ANS False
C
In a time series, what is a black swan? - ANS a particularly high-impact incident of extreme
consequence that is unexpected or considered highly improbable
LO
Calculating a regression equation for a given set of data identifies the specific values of ____ -
ANS the slope and intercept
Averaging forecast errors over time results in the performance measure known as *****? - ANS
YC
mean error
What is the ME for the forecast errors of 5, 10, 0, and -3? - ANS 3
one-time shocks to a time series from a distinctly external influence, such as a sudden dip in
consumer sales after a disruptive event, are called ____ variations - ANS exogenous
D
Several forecasting methods rely on insights from a group of people, but which method does
NOT have the group discuss their opinions? - ANS Delphi Groups
U
Which of the following forecasting measures calculates the average of the absolute values of a
set of forecast errors? - ANS MAD
ST
The alpha value (o) in the exponential smoothing formula is known as the - ANS smoothing
constant
Queue________ specifies the order in which waiting arrivals are serve. - ANS Discipline
The break-even point is the level of production at which - ANS total revenue and costs are
balanced
___________ cost is cost incurred regardless of the volume of associated activity. - ANS
Fixed
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