Question 1

What name is given to statistical data described over a period of time?

Accepted Answer

A)  Date series 
B)  Time Series 
C)  Chronological Series 
D)  Predictive Series 
A)  Date series 
B)  Time Series 
C)  Chronological Series 
D)  Predictive Series B

Question 2

Two models for the calculation of time series data are considered in this book. What are they called?

Accepted Answer

A)  Additive model and Summative model 
B)  Additive model and Geometric model 
C)  Additive model and Regressive model 
D)  Additive model and Multiplicative model 
A)  Additive model and Summative model 
B)  Additive model and Geometric model 
C)  Additive model and Regressive model 
D)  Additive model and Multiplicative model D

Question 3

Which of the following options IS important when defining a time series?

Accepted Answer

A)  There must be a very large number of data points 
B)  Data should not vary significantly from the mean 
C)  Data must cover more than a year 
D)  The time points used to record data must be uniform 
A)  There must be a very large number of data points 
B)  Data should not vary significantly from the mean 
C)  Data must cover more than a year 
D)  The time points used to record data must be uniform D

Question 4

The manager of a pharmaceutical sales team in Mumbai wishes to calculate the total expenses (y) of his team. Expenses may be in three categories: travel (t); food (f) and accommodation (a). Which of the following models is suitable for calculating the value of y?

Accepted Answer

A)  y = t x f x a 
B)  y = t + f + a 
C)  y = t + f x a 
D)  y = t x f + a 
A)  y = t x f x a 
B)  y = t + f + a 
C)  y = t + f x a 
D)  y = t x f + a

Question 5

Which of the following sets of data might be expected to have a 12 month cycle?

Accepted Answer

A)  Sales of washing powder 
B)  Data showing changes in the GDP of Jordan 
C)  Volume of gas used for domestic heating 
D)  Sales of ski-equipment 
A)  Sales of washing powder 
B)  Data showing changes in the GDP of Jordan 
C)  Volume of gas used for domestic heating 
D)  Sales of ski-equipment

Question 6

Which of the following options does not represent a purpose of time series analysis?

Accepted Answer

A)  Explaining causes of variation between data points 
B)  The identification of trends 
C)  Making forecasts of future patterns 
D)  Eliminating irrelevant factors 
A)  Explaining causes of variation between data points 
B)  The identification of trends 
C)  Making forecasts of future patterns 
D)  Eliminating irrelevant factors

Question 7

Which of the following options is the BEST definition of the seasonal component of a time series model?

Accepted Answer

A)  Short-term cyclic fluctuations in the data 
B)  Fluctuations in the data caused by the four seasons 
C)  Long-term fluctuations in the data caused by environmental factors 
D)  An underlying long-term tendency in the data 
A)  Short-term cyclic fluctuations in the data 
B)  Fluctuations in the data caused by the four seasons 
C)  Long-term fluctuations in the data caused by environmental factors 
D)  An underlying long-term tendency in the data

Question 8

Which of the following options is NOT a component of a time series model?

Accepted Answer

A)  Trend component 
B)  Cummulative component 
C)  Seasonal component 
D)  Residual component 
A)  Trend component 
B)  Cummulative component 
C)  Seasonal component 
D)  Residual component

Question 9

Which option reflects the usual way of representing time series data graphically?

Accepted Answer

A)  Historigram 
B)  Pie Chart 
C)  Bar Chart 
D)  Lorenz Curve 
A)  Historigram 
B)  Pie Chart 
C)  Bar Chart 
D)  Lorenz Curve

Question 10

Which of the following statements relating to the residual component of a time series model is NOT true?

Accepted Answer

A)  The residual component may include factors not relating to the seasonal and trend components 
B)  The residual component may include 'random' unpredictable factors 
C)  The residual component may include daily or weekly fluctuations 
D)  The residual component may include long-term cyclic fluctuations 
A)  The residual component may include factors not relating to the seasonal and trend components 
B)  The residual component may include 'random' unpredictable factors 
C)  The residual component may include daily or weekly fluctuations 
D)  The residual component may include long-term cyclic fluctuations

Exam 15: Time Series Model

What name is given to statistical data described over a period of time?

Two models for the calculation of time series data are considered in this book. What are they called?

Which of the following options IS important when defining a time series?

The manager of a pharmaceutical sales team in Mumbai wishes to calculate the total expenses (y) of his team. Expenses may be in three categories: travel (t); food (f) and accommodation (a). Which of the following models is suitable for calculating the value of y?

Which of the following sets of data might be expected to have a 12 month cycle?

Which of the following options does not represent a purpose of time series analysis?

Which of the following options is the BEST definition of the seasonal component of a time series model?

Which of the following options is NOT a component of a time series model?

Which option reflects the usual way of representing time series data graphically?

Which of the following statements relating to the residual component of a time series model is NOT true?

Introduction to Business Mathematics and Statistics

Sampling and Data Collection

Data and Their Accuracy

Frequency Distributions and Charts

General Charts and Graphs

Arithmetic Mean

Median

Mode and Other Measures of Location

Measures of Dispersion and Skewness

Standard Deviation

Quantiles and the Quartile Deviation

Linear Functions and Graphs

Regression Techniques

Correlation Techniques

Time Series Trend

Seasonal Variation and Forecasting

Index Relatives

Composite Index Numbers

Special Published Indices

Interest and Depreciation

Present Value and Investment Appraisal

Annuities

Functions and Graphs

Linear Equations

Quadratic and Cubic Equations

Differentiation and Integration

Cost, Revenue and Profit Functions

Set Theory and Enumeration

Introduction to Probability

Conditional Probability and Expectation

Combinations and Permutations

Binomial and Poisson Distributions

Normal Distribution

Linear Inequalities

Matrices

Inventory Control

Network Planning and Analysis

Filters