Use the data given below to answer the following question(s). The worldwide sales of cars from 1981-1990 are shown in the table below.Given: α = 0.2 and γ = 0.05.(Hint: Use XLMiner). \(\begin{array}{|c|c|} \hline \text { Year } & \begin{array}{c} \text { Units sold in } \\ \text { thousands } \end{array} \\ \hline 1 & 750 \\ \hline 2 & 823 \\ \hline 3 & 1034 \\ \hline 4 & 1945 \\ \hline 5 & 1556 \\ \hline 6 & 1300 \\ \hline 7 & 1346 \\ \hline 8 & 1150 \\ \hline 9 & 967 \\ \hline 10 & 1200 \\ \hline \end{array}\) -Which of the following is the forecast value for the 6ᵗʰ year?

A) 1256.06 B) 1328.04 C) 1321.31 D) 1327.24 A) 1256.06 B) 1328.04 C) 1321.31 D) 1327.24

Use the data given below to answer the following question(s). The table below provides the sales data for JD Inc.for the year 1998.Given: α = 0.2, β = 0.15, and γ = 0.05 (Hint: Classify the data into quarters for the following question(s).) \(\begin{array}{l} \text { Umbrella Sales of JD Inc. }\\ \begin{array}{|c|c|c|} \hline \text { Year } & \text { Month } & \text { Units } \\ \hline 1 & \text { Jan } & 3980 \\ \hline 1 & \text { Feb } & 4000 \\ \hline 1 & \text { Mar } & 4740 \\ \hline 1 & \text { April } & 4720 \\ \hline 1 & \text { May } & 4920 \\ \hline 1 & \text { Jun } & 5140 \\ \hline 1 & \text { July } & 4640 \\ \hline 1 & \text { Aug } & 4520 \\ \hline 1 & \text { Sep } & 4480 \\ \hline 1 & \text { Oct } & 4690 \\ \hline 1 & \text { Nov } & 4210 \\ \hline 1 & \text { Dec } & 4418 \\ \hline \end{array} \end{array}\) -What is the value of the mean absolute deviation for the given data?

A) 8.10 B) 346.26 C) 14.82 D) 7.62 A) 8.10 B) 346.26 C) 14.82 D) 7.62

Use the data shown below to answer the following question(s). The table below is the data set of the Shiller Real Home Price Index for the years 1946-1956. \(\begin{array}{c|c} \text { Year } & \begin{array}{c} \text { Real Home Price } \\ \text { Index } \end{array} \\ \hline 1946 & 106.5058955 \\ \hline 1947 & 109.3296707 \\ \hline 1948 & 101.2225795 \\ \hline 1949 & 100.0466076 \\ \hline 1950 & 105.8948393 \\ \hline 1951 & 103.8986687 \\ \hline 1952 & 103.9743275 \\ \hline 1953 & 114.7133093 \\ \hline 1954 & 114.199126 \\ \hline 1955 & 115.4621261 \\ \hline 1956 & 115.3166155 \end{array}\) -Setting k = 3, determine the value of mean absolute deviation.

@#IMG-DLM& MSE = @#LAT-DLM& = @#LAT-DLM&= 4.00 T

Use the data given below to answer the following question(s). The worldwide sales of cars from 1981-1990 are shown in the table below.Given: α = 0.2 and γ = 0.05.(Hint: Use XLMiner). \(\begin{array}{|c|c|} \hline \text { Year } & \begin{array}{c} \text { Units sold in } \\ \text { thousands } \end{array} \\ \hline 1 & 750 \\ \hline 2 & 823 \\ \hline 3 & 1034 \\ \hline 4 & 1945 \\ \hline 5 & 1556 \\ \hline 6 & 1300 \\ \hline 7 & 1346 \\ \hline 8 & 1150 \\ \hline 9 & 967 \\ \hline 10 & 1200 \\ \hline \end{array}\) -Which of the following is the value of the root mean square error for the given data?

A) 252.55 B) 367.35 C) 21.70 D) 109.76 A) 252.55 B) 367.35 C) 21.70 D) 109.76

Use the data given below to answer the following question(s). The worldwide sales of cars from 1981-1990 are shown in the table below.Given: α = 0.2 and β = 0.15 (Hint: Use XLMiner) \(\begin{array}{|c|c|} \hline \text { Year } & \begin{array}{c} \text { Units sold in } \\ \text { thousands } \end{array} \\ \hline 1981 & 888 \\ \hline 1982 & 900 \\ \hline 1983 & 1000 \\ \hline 1984 & 1200 \\ \hline 1985 & 1100 \\ \hline 1986 & 1300 \\ \hline 1987 & 1250 \\ \hline 1988 & 1150 \\ \hline 1989 & 1100 \\ \hline 1990 & 1200 \\ \hline \end{array}\) -For the given data, what is the sales forecast for the year 1992 (in thousands)?

A) 1256.87 B) 1317.91 C) 1285.74 D) 1350.08 A) 1256.87 B) 1317.91 C) 1285.74 D) 1350.08

Use the data given below to answer the following question(s). The details of the clock sales at a supermarket for the past 6 weeks are shown in the table below.The time series appears to be relatively stable, without trend, seasonal, or cyclical effects.The simple moving average value of k is set at 2. \(\begin{array}{|c|c|} \hline \text { Week } & \text { Units sold } \\ \hline 1 & 88 \\ \hline 2 & 44 \\ \hline 3 & 54 \\ \hline 4 & 65 \\ \hline 5 & 72 \\ \hline 6 & 85 \\ \hline \end{array}\) -If the smoothing constant is assumed to be 0.7, and setting F₁ and F₂ = A₁, the exponential smoothing sales forecast for week 7 is approximately ________.

A) 50 clocks B) 80 clocks C) 60 clocks D) 70 clocks A) 50 clocks B) 80 clocks C) 60 clocks D) 70 clocks

Use the data given below to answer the following question(s). The worldwide sales of cars from 1981-1990 are shown in the table below.Given: α = 0.2 and β = 0.15 (Hint: Use XLMiner) \(\begin{array}{|c|c|} \hline \text { Year } & \begin{array}{c} \text { Units sold in } \\ \text { thousands } \end{array} \\ \hline 1981 & 888 \\ \hline 1982 & 900 \\ \hline 1983 & 1000 \\ \hline 1984 & 1200 \\ \hline 1985 & 1100 \\ \hline 1986 & 1300 \\ \hline 1987 & 1250 \\ \hline 1988 & 1150 \\ \hline 1989 & 1100 \\ \hline 1990 & 1200 \\ \hline \end{array}\) -Using the double exponential smoothing, find the value of the root mean square error for the given data.

A) 8.10 B) 91.27 C) 11976.17 D) 109.44 A) 8.10 B) 91.27 C) 11976.17 D) 109.44

Exam 10: Forecasting Techniques

Use the data given below to answer the following question(s). The details of the clock sales at a supermarket for the past 6 weeks are shown in the table below.The time series appears to be relatively stable, without trend, seasonal, or cyclical effects.The simple moving average value of k is set at 2. Week Units sold 1 88 2 44 3 54 4 65 5 72 6 85 -Using the data, determine the value of the simple moving average root mean square error.

(Multiple Choice)

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Question 21

Use the data given below to answer the following question(s). The worldwide sales of cars from 1981-1990 are shown in the table below.Given: α = 0.2 and γ = 0.05.(Hint: Use XLMiner). Year Units sold in thousands 1 750 2 823 3 1034 4 1945 5 1556 6 1300 7 1346 8 1150 9 967 10 1200 -Which of the following is the forecast value for the 6ᵗʰ year?

(Multiple Choice)

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Question 22

Use the data given below to answer the following question(s). The table below provides the sales data for JD Inc.for the year 1998.Given: α = 0.2, β = 0.15, and γ = 0.05 (Hint: Classify the data into quarters for the following question(s).) Umbrella Sales of JD Inc. Year Month Units 1 Jan 3980 1 Feb 4000 1 Mar 4740 1 April 4720 1 May 4920 1 Jun 5140 1 July 4640 1 Aug 4520 1 Sep 4480 1 Oct 4690 1 Nov 4210 1 Dec 4418 -What is the value of the mean absolute deviation for the given data?

(Multiple Choice)

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Question 23

Use the data shown below to answer the following question(s). The table below is the data set of the Shiller Real Home Price Index for the years 1946-1956. Year Real Home Price Index 1946 106.5058955 1947 109.3296707 1948 101.2225795 1949 100.0466076 1950 105.8948393 1951 103.8986687 1952 103.9743275 1953 114.7133093 1954 114.199126 1955 115.4621261 1956 115.3166155 -Setting k = 3, determine the simple moving average forecast for the year 1950.

(Essay)

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Question 24

The Delphi method used for forecasting:

(Multiple Choice)

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Question 25

Use the data shown below to answer the following question(s). The table below is the data set of the Shiller Real Home Price Index for the years 1946-1956. Year Real Home Price Index 1946 106.5058955 1947 109.3296707 1948 101.2225795 1949 100.0466076 1950 105.8948393 1951 103.8986687 1952 103.9743275 1953 114.7133093 1954 114.199126 1955 115.4621261 1956 115.3166155 -Setting k = 5, calculate the simple moving average forecast for the year 1951.

(Essay)

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Question 26

Use the data shown below to answer the following question(s). The table below is the data set of the Shiller Real Home Price Index for the years 1946-1956. Year Real Home Price Index 1946 106.5058955 1947 109.3296707 1948 101.2225795 1949 100.0466076 1950 105.8948393 1951 103.8986687 1952 103.9743275 1953 114.7133093 1954 114.199126 1955 115.4621261 1956 115.3166155 -Setting k = 3, determine the value of mean absolute deviation.

(Essay)

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Question 27

Use the data given below to answer the following question(s). The table provided below gives the sales details of the number of android smart phones at an electronic retail store for the past 6 weeks.The time series appears to be relatively stable, without trend, seasonal, or cyclical effects.The value of k is set at 3.(Hint: Optimize α value.) Week Units sold 1 88 2 44 3 54 4 65 5 72 6 85 -In the linear trend equation Ft₊k = at + btk, identify the term that signifies the trend.

(Multiple Choice)

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Question 28

Use the data given below to answer the following question(s). The details of the clock sales at a supermarket for the past 6 weeks are shown in the table below.The time series appears to be relatively stable, without trend, seasonal, or cyclical effects.The simple moving average value of k is set at 2. Week Units sold 1 88 2 44 3 54 4 65 5 72 6 85 -For the given data, calculate the value of the simple moving average mean absolute percentage error.

(Multiple Choice)

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Question 29

The Holt-Winters additive model applies to time series whose amplitude increases or decreases over time.

(True/False)

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Question 30

Use the data given below to answer the following question(s). The worldwide sales of cars from 1981-1990 are shown in the table below.Given: α = 0.2 and γ = 0.05.(Hint: Use XLMiner). Year Units sold in thousands 1 750 2 823 3 1034 4 1945 5 1556 6 1300 7 1346 8 1150 9 967 10 1200 -Which of the following is the value of the root mean square error for the given data?

(Multiple Choice)

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Question 31

Use the data given below to answer the following question(s). The worldwide sales of cars from 1981-1990 are shown in the table below.Given: α = 0.2 and β = 0.15 (Hint: Use XLMiner) Year Units sold in thousands 1981 888 1982 900 1983 1000 1984 1200 1985 1100 1986 1300 1987 1250 1988 1150 1989 1100 1990 1200 -For the given data, what is the sales forecast for the year 1992 (in thousands)?

(Multiple Choice)

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Question 32

Use the data given below to answer the following question(s). The table provided below gives the sales details of the number of android smart phones at an electronic retail store for the past 6 weeks.The time series appears to be relatively stable, without trend, seasonal, or cyclical effects.The value of k is set at 3.(Hint: Optimize α value.) Week Units sold 1 88 2 44 3 54 4 65 5 72 6 85 -In the linear trend equation, Ft₊k = at + btk, at is known as the ________.

(Multiple Choice)

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Question 33

Use the data given below to answer the following question(s). The details of the clock sales at a supermarket for the past 6 weeks are shown in the table below.The time series appears to be relatively stable, without trend, seasonal, or cyclical effects.The simple moving average value of k is set at 2. Week Units sold 1 88 2 44 3 54 4 65 5 72 6 85 -If the smoothing constant is assumed to be 0.7, and setting F₁ and F₂ = A₁, the exponential smoothing sales forecast for week 7 is approximately ________.

(Multiple Choice)

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Question 34

Before launching a new line of toys, Toys Inc.used the method of historical analogy to obtain a forecast.In this scenario, Toys Inc.:

(Multiple Choice)

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Question 35

Time-series models may exhibit seasonal effects or cyclical effects.A seasonal effect differs from a cyclical effect in that a seasonal effect:

(Multiple Choice)

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Question 36

Use the data given below to answer the following question(s). The details of the clock sales at a supermarket for the past 6 weeks are shown in the table below.The time series appears to be relatively stable, without trend, seasonal, or cyclical effects.The simple moving average value of k is set at 2. Week Units sold 1 88 2 44 3 54 4 65 5 72 6 85 -For the given data, the simple moving average mean absolute deviation is ________.

(Multiple Choice)

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Question 37

Use the data given below to answer the following question(s). The worldwide sales of cars from 1981-1990 are shown in the table below.Given: α = 0.2 and β = 0.15 (Hint: Use XLMiner) Year Units sold in thousands 1981 888 1982 900 1983 1000 1984 1200 1985 1100 1986 1300 1987 1250 1988 1150 1989 1100 1990 1200 -Using the double exponential smoothing, find the value of the root mean square error for the given data.

(Multiple Choice)

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Question 38

Use the data given below to answer the following question(s). The table provided below gives the sales details of the number of android smart phones at an electronic retail store for the past 6 weeks.The time series appears to be relatively stable, without trend, seasonal, or cyclical effects.The value of k is set at 3.(Hint: Optimize α value.) Week Units sold 1 88 2 44 3 54 4 65 5 72 6 85 -What is the formula used to calculate the value of at in the linear trend equation Ft₊k = at + btk while using double exponential smoothing?

(Multiple Choice)

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Question 39

Use the data given below to answer the following question(s). The table provided below gives the sales details of the number of android smart phones at an electronic retail store for the past 6 weeks.The time series appears to be relatively stable, without trend, seasonal, or cyclical effects.The value of k is set at 3.(Hint: Optimize α value.) Week Units sold 1 88 2 44 3 54 4 65 5 72 6 85 -What is the forecasted value for the 3ʳᵈ week?

(Multiple Choice)

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Question 40

The Delphi method used for forecasting:

The Holt-Winters additive model applies to time series whose amplitude increases or decreases over time.

Before launching a new line of toys, Toys Inc.used the method of historical analogy to obtain a forecast.In this scenario, Toys Inc.:

Time-series models may exhibit seasonal effects or cyclical effects.A seasonal effect differs from a cyclical effect in that a seasonal effect:

Introduction to Business Analytics

Analytics on Spreadsheets

Visualizing and Exploring Data

Descriptive Statistical Measures

Probability Distributions and Data Modeling

Sampling and Estimation

Statistical Inference

Predictive Modeling and Analysis

Regression Analysis

Simulation and Risk Analysis

Introduction to Data Mining

Linear Optimization

Applications of Linear Optimization

Integer Optimization

Nonlinear and Non-Smooth Optimization

Optimization Models with Uncertainty

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