QMB 3200 FINAL EXAM| 83 QUESTIONS AND ANSWERS 100% CORRECT
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QMB 3200 FINAL EXAM| 83 QUESTIONS AND ANSWERS 100% CORRECTQMB 3200 FINAL EXAM| 83 QUESTIONS AND ANSWERS 100% CORRECTQMB 3200 FINAL EXAM| 83 QUESTIONS AND ANSWERS 100% CORRECT
Which of the following is not present in a time series? - ANSWER-Operational variations
The difference between the actua...
which of the following is not present in a time se
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QMB 3200 FINAL EXAM| 83 QUESTIONS
AND ANSWERS 100% CORRECT
Which of the following is not present in a time series? - ANSWER-Operational variations
The difference between the actual time series value and the forecast is called: -
ANSWER-forecast error
What type of analysis aims to discover a pattern in the historical data or time series and
then extrapolate the pattern into the future? - ANSWER-Time series analysis
The average of the absolute values of the forecast errors is called: - ANSWER-mean
absolute error
What is the component of a time series model that is attributable to multiyear cycles in
the time series? - ANSWER-The cyclical component
Time series regression refers to the use of regression analysis when the independent
variable is: - ANSWER-time
The method that uses the average of the most recent k data values in the time series as
the forecast for the next period is called: - ANSWER-moving averages
If the historical data are restricted to past values of the variable to be forecast, the
forecasting procedure is called a: - ANSWER-time series method
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? - ANSWER-
Exponential smoothing
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? - ANSWER-above; below
Suppose sales data for the first quarter had a seasonal index of .80. Which of the
following statements correctly interprets this figure? - ANSWER-The sales average is
20% below the trend estimate
A positive forecast error indicates that the forecasting method _____ the dependent
variable. - ANSWER-underestimated
, To model a time series with a seasonal pattern, we treat the season as a(n): -
ANSWER-categorical variable
When historical data on the variable being forecast are either not applicable or
unavailable, what kind of forecasting method should be used? - ANSWER-Qualitative
methods
The average of the sum of squared forecast errors is called: - ANSWER-mean squared
error
Suppose for a particular week, the forecasted sales were $4,000. The actual sales were
$3,000. What is the value of the mean absolute percentage error? - ANSWER-33.3%
If data for a time series analysis is collected on an annual basis only, which component
may be ignored? - ANSWER-Seasonal
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? - ANSWER-
alpha = .2
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? -
ANSWER-Weighted moving average method
The following linear trend expression was estimated using a time series with 9 years as
the independent variable and annual profit as the response variable (in millions).
Tt = 29.2 + 3.8tThe value 3.8 represents the: - ANSWER-amount that the profit is
expected to increase by each year, in millions of dollars, on average
When using a weighted moving average, if we believe that the recent past is a better
predictor of the future than the distant past, we should: - ANSWER-give larger weights
to recent observations
What kind of forecasting method is based on the assumption that the variable we are
forecasting has a cause-effect relationship with one or more other variables? -
ANSWER-Casual forecasting method
A time series method that is used to separate or decompose a time series into
seasonal, trend, and irregular components is called: - ANSWER-time series
decomposition
Three of the following forecasting methods are appropriate for a time series with a
horizontal pattern. Which one is not appropriate for a time series with a horizontal
pattern? - ANSWER-Linear trend regression
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