Question 1

If a major hurricane exerts an impact on the economy, that event could be classified as:

Accepted Answer

A)  Secular trend 
B)  Episodic variation 
C)  Residual variation 
D)  Seasonal variation 
A)  Secular trend 
B)  Episodic variation 
C)  Residual variation 
D)  Seasonal variation

Question 2

The range of possible values for the Durbin-Watson statistic is

Accepted Answer

A)  any value. 
B)  any value greater than zero. 
C)  any value from 0 to 4 inclusive. 
D)  any value less than zero. 
A)  any value. 
B)  any value greater than zero. 
C)  any value from 0 to 4 inclusive. 
D)  any value less than zero.

Question 3

Episodic and residual variations can be projected into the future.

Accepted Answer

A) True 
 B)False

Question 4

A set of typical seasonal indexes is very useful in adjusting a time series for seasonal fluctuations. What is the resulting time series called? _____________________________

Accepted Answer

deseasonal

Question 5

Product sales since 1999 are:   The least squares trend equation is given as
Ŷ = 265.12 - 21.18t, where t is set equal to one for 1999.
On average, how much did sales change per year from 1999 to 2007?

Accepted Answer

The answer of Product sales since 1999 are:  ...

Question 6

Why are long range predictions considered essential to managing a firm?

Accepted Answer

A)  To develop plans for possible new plants 
B)  To have raw materials available for future demand 
C)  To develop plans for future financing 
D)  All of the above 
A)  To develop plans for possible new plants 
B)  To have raw materials available for future demand 
C)  To develop plans for future financing 
D)  All of the above

Question 7

If the past data approximates a straight line, the equation used is Ŷ = a + bt, where a is the Y-intercept and b is the slope of the line.

Accepted Answer

A) True 
 B)False

Question 8

To calculate monthly typical seasonal indexes, how many periods are included in the ratio-to-moving-average method?

Accepted Answer

A)  Two 
B)  Four 
C)  Six 
D)  Twelve 
A)  Two 
B)  Four 
C)  Six 
D)  Twelve

Question 9

If the least squares equation for sales data going from 2004 to 2008 is Ŷ = 10 + 1.3t (in $millions), what is the value of t and the forecast for 2010?

Accepted Answer

A)  t = 6, Ŷ = 17.8 
B)  t = 0, Ŷ = 10.0 
C)  t = 7, Ŷ = 19.1 
D)  t = 10, Ŷ = 0.0 
A)  t = 6, Ŷ = 17.8 
B)  t = 0, Ŷ = 10.0 
C)  t = 7, Ŷ = 19.1 
D)  t = 10, Ŷ = 0.0

Question 10

Product sales since 1999 are:   The least squares trend equation is given as
Ŷ = 265.12 - 21.18t, where t is set equal to one for 1999.
What is the 3 year moving average for 1999-2001?

Accepted Answer

The answer of Product sales since 1999 are:  ...

Question 11

A linear trend equation is used to represent time series values when the data are changing by equal?

Accepted Answer

A)  Percents 
B)  Proportions 
C)  Amounts 
D)  Both "A" and "B" are correct 
A)  Percents 
B)  Proportions 
C)  Amounts 
D)  Both "A" and "B" are correct

Question 12

A plastics manufacturer performed a quarterly time series analysis for demands over the last five years (periods 1 through 20). The analysis resulted in the following trend equation and seasonal indexes:
Ŷ = 920.0 + 22.6t   Using the trend line equation and the seasonal indexes, predict demand for the third period of the next year, i.e., period 23.

Accepted Answer

The answer of A plastics manufacturer performed a quarterly time...

Question 13

A logarithmic trend equation should be used when the time series trend is:

Accepted Answer

A)  Changing in equal amounts 
B)  Increasing by equal percentages 
C)  Increasing in equal amounts 
D)  Increasing or decreasing by equal percentages 
A)  Changing in equal amounts 
B)  Increasing by equal percentages 
C)  Increasing in equal amounts 
D)  Increasing or decreasing by equal percentages

Question 14

A plastics manufacturer performed a quarterly time series analysis for demands over the last five years (periods 1 through 20). The analysis resulted in the following trend equation and seasonal indexes:   = 920.0 + 22.6 t   Based on the seasonal indexes, which quarter is expected to have 21% more demand than predicted by the trend line?

Accepted Answer

The answer of A plastics manufacturer performed a quarterly time...

Question 15

For a five-year moving average, how many values will be lost at the beginning and end of the time series?

Accepted Answer

A)  0 at the start and 4 at the end 
B)  3 at the start and 3 at the end 
C)  2 at the start and 2 at the end 
D)  0 at the start and 5 at the end 
A)  0 at the start and 4 at the end 
B)  3 at the start and 3 at the end 
C)  2 at the start and 2 at the end 
D)  0 at the start and 5 at the end

Question 16

A resort hotel performed a quarterly time series analysis for demands over the last five years (periods 1 through 20). The analysis resulted in the following trend equation and seasonal indexes:
Ŷ = 1000 + 150t   The seasonal indexes have:

Accepted Answer

The answer of A resort hotel performed a quarterly time...

Question 17

When a time series is non-linear, suggest a method for transforming the data so that the least squares method can be applied.

Accepted Answer

When a time series i

Question 18

What is the general equation for the logarithmic trend equation to forecast Ŷ?

Accepted Answer

A)  log a + log b (t) 
B)  log a t log b (t) 
C)  a t b(t) 
D)  ab(t) 
A)  log a + log b (t) 
B)  log a t log b (t) 
C)  a t b(t) 
D)  ab(t)

Question 19

If the exports (in $millions) for the period 2006 through 2010 were $878, $892, $864, $870 and $912 respectively, what are these values called?

Accepted Answer

A)  Moving average 
B)  Linear trend equation 
C)  Logarithmic trend equation 
D)  Time series data 
A)  Moving average 
B)  Linear trend equation 
C)  Logarithmic trend equation 
D)  Time series data

Question 20

If time series data are plotted on graph paper having an arithmetic scale that increases or decreases by equal percents, how will the graph look?

Accepted Answer

A)  Straight line 
B)  Linear 
C)  Curvilinear 
D)  Logarithmic 
A)  Straight line 
B)  Linear 
C)  Curvilinear 
D)  Logarithmic

If a major hurricane exerts an impact on the economy, that event could be classified as:

The range of possible values for the Durbin-Watson statistic is

Episodic and residual variations can be projected into the future.

A set of typical seasonal indexes is very useful in adjusting a time series for seasonal fluctuations. What is the resulting time series called? _____________________________

Product sales since 1999 are: The least squares trend equation is given as Ŷ = 265.12 - 21.18t, where t is set equal to one for 1999. On average, how much did sales change per year from 1999 to 2007?

Why are long range predictions considered essential to managing a firm?

If the past data approximates a straight line, the equation used is Ŷ = a + bt, where a is the Y-intercept and b is the slope of the line.

To calculate monthly typical seasonal indexes, how many periods are included in the ratio-to-moving-average method?

If the least squares equation for sales data going from 2004 to 2008 is Ŷ = 10 + 1.3t (in $millions), what is the value of t and the forecast for 2010?

Product sales since 1999 are: The least squares trend equation is given as Ŷ = 265.12 - 21.18t, where t is set equal to one for 1999. What is the 3 year moving average for 1999-2001?

A linear trend equation is used to represent time series values when the data are changing by equal?

A logarithmic trend equation should be used when the time series trend is:

For a five-year moving average, how many values will be lost at the beginning and end of the time series?

A resort hotel performed a quarterly time series analysis for demands over the last five years (periods 1 through 20). The analysis resulted in the following trend equation and seasonal indexes: Ŷ = 1000 + 150t The seasonal indexes have:

When a time series is non-linear, suggest a method for transforming the data so that the least squares method can be applied.

What is the general equation for the logarithmic trend equation to forecast Ŷ?

If the exports (in $millions) for the period 2006 through 2010 were $878, $892, $864, $870 and $912 respectively, what are these values called?

If time series data are plotted on graph paper having an arithmetic scale that increases or decreases by equal percents, how will the graph look?

What Is Statistics

Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation

Describing Data: Numerical Measures

Describing Data: Displaying and Exploring Data

A Survey of Probability Concepts

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Methods and the Central Limit Theorem

Estimation and Confidence Intervals

One-Sample Tests of Hypothesis

Two-Sample Tests of Hypothesis

Analysis of Variance

Correlation and Linear Regression

Multiple Regression Analysis

Index Numbers

Nonparametric Methods: Goodness-Of-Fit Tests

Nonparametric Methods: Analysis of Ranked Data

Statistical Process Control and Quality Management

An Introduction to Decision Theory

Filters

Exam 16: Time Series and Forecasting

If a major hurricane exerts an impact on the economy, that event could be classified as:

The range of possible values for the Durbin-Watson statistic is

Episodic and residual variations can be projected into the future.

A set of typical seasonal indexes is very useful in adjusting a time series for seasonal fluctuations. What is the resulting time series called? _____________________________

Product sales since 1999 are: The least squares trend equation is given as Ŷ = 265.12 - 21.18t, where t is set equal to one for 1999. On average, how much did sales change per year from 1999 to 2007?

Why are long range predictions considered essential to managing a firm?

If the past data approximates a straight line, the equation used is Ŷ = a + bt, where a is the Y-intercept and b is the slope of the line.

To calculate monthly typical seasonal indexes, how many periods are included in the ratio-to-moving-average method?

If the least squares equation for sales data going from 2004 to 2008 is Ŷ = 10 + 1.3t (in $millions), what is the value of t and the forecast for 2010?

Product sales since 1999 are: The least squares trend equation is given as Ŷ = 265.12 - 21.18t, where t is set equal to one for 1999. What is the 3 year moving average for 1999-2001?

A linear trend equation is used to represent time series values when the data are changing by equal?

A logarithmic trend equation should be used when the time series trend is:

For a five-year moving average, how many values will be lost at the beginning and end of the time series?

A resort hotel performed a quarterly time series analysis for demands over the last five years (periods 1 through 20). The analysis resulted in the following trend equation and seasonal indexes: Ŷ = 1000 + 150t The seasonal indexes have:

When a time series is non-linear, suggest a method for transforming the data so that the least squares method can be applied.

What is the general equation for the logarithmic trend equation to forecast Ŷ?

If the exports (in $millions) for the period 2006 through 2010 were $878, $892, $864, $870 and $912 respectively, what are these values called?

If time series data are plotted on graph paper having an arithmetic scale that increases or decreases by equal percents, how will the graph look?

What Is Statistics

Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation

Describing Data: Numerical Measures

Describing Data: Displaying and Exploring Data

A Survey of Probability Concepts

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Methods and the Central Limit Theorem

Estimation and Confidence Intervals

One-Sample Tests of Hypothesis

Two-Sample Tests of Hypothesis

Analysis of Variance

Correlation and Linear Regression

Multiple Regression Analysis

Index Numbers

Nonparametric Methods: Goodness-Of-Fit Tests

Nonparametric Methods: Analysis of Ranked Data

Statistical Process Control and Quality Management

An Introduction to Decision Theory

Filters