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UCF QMB 3200 (Econometrics) FINAL EXAM STUDY GUIDE QUESTIONS AND ANSWERS
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UCF QMB 3200 (Econometrics) FINAL EXAM STUDY GUIDE QUESTIONS AND ANSWERS
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UCF QMB 3200 (Econometrics) FINAL EXAMSTUDY GUIDE QUESTIONS AND ANSWERS
If the value of y in time period t is related to its value in time period t - 1,
we say that
Correct Answer -first-order autocorrelation is present.
The effect of two independent variables acting together is called
Correct Answer -Interaction.
Which of the following options guarantees that the best model for a given
number of variables will be found?
Correct Answer -Best-subsets regression
How many independent variables does the forward selection process start
with?
Correct Answer -Zero
Which of the following statements about the backward elimination
procedure is false?
Correct Answer -It begins with zero independent variables.
When determining the best estimated regression equation to model a set of
data, the procedure that allows an independent variable to enter the model
at one step, be removed at a subsequent step, and then enter the model at
a later step is
Correct Answer -stepwise regression.
The parameters of nonlinear models have exponents
Correct Answer -other than one.
,In multiple regression analysis, the general linear model:
Correct Answer -can be used to accommodate curvilinear relationships
between the independent variables and the dependent variable.
Suppose sales data for the first quarter had a seasonal index of .80. Which
of the following statements correctly interprets this figure?
Correct Answer -The sales average is 20% below the trend estimate.
The time series model that is appropriate in situations where the seasonal
fluctuations do not depend upon the level of the time series is
Correct Answer -Additive model.
The average of the sum of squared forecast errors is called
Correct Answer -mean squared error.
A forecast model of the form is called a(n)
Correct Answer -Quadratic trend equation.
What is the component of a time series model that is attributable to
multiyear cycles in the time series?
Correct Answer -The cyclical component
The average of all the historical data will always provide the best results
as long as the underlying time series is
Correct Answer -Stationary
Seasonal and irregular components with values greater than 1.00 indicate
effects _____ the trend estimate and values below 1.00 indicate effects
_____ the trend estimate. Which two words correctly complete this
,sentence?
Correct Answer -Above; below
What kind of model is appropriate if the seasonal fluctuations change over
time, growing larger as the dependent variable increases because of a
long-term linear trend?
Correct Answer -A multiplicative model
A positive forecast error indicates that the forecasting method _____ the
dependent variable.
Correct Answer -Underestimated.
What forecasting method uses a weighted average of past time series
values as the forecast; it is a special case of the weighted moving
averages method in which we select only one weight—the weight for the
most recent observation?
Correct Answer -Exponential smoothing.
Time series regression refers to the use of regression analysis when the
independent variable is:
Correct Answer -Time.
All of the following are true about qualitative forecasting methods except
Correct Answer -they assume that the pattern of the past will continue into
the future.
Which of the following set of circumstances is not needed to carry out
quantitative forecasting methods?
Correct Answer -When the historical data has a correlation of 1
, The time series component that reflects gradual variability over a long time
period is called:
Correct Answer -Trend
If data for a time series analysis is collected on an annual basis only,
which component may be ignored?
Correct Answer -Seasonal.
If the historical data are restricted to past values of the variable to be
forecast, the forecasting procedure is called a
Correct Answer -time series method.
What forecasting method involves selecting a different weight for the most
recent k data values in the time series and then computing a weighted
average of the values?
Correct Answer -Weighted moving average method.
A time series from which the effect of season has been removed by
dividing each original time series observation by the corresponding
seasonal index is called a:
Correct Answer -deseasonalized time series.
Which of the following exponential smoothing constant values puts the
same weight on the most recent time series value as does a 5-period
moving average?
Correct Answer -Alpha = .2
Time series decomposition can be used to separate or decompose a time
series into all of the following components except:
Correct Answer -Horizontal patterns
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