Solved

The Demand for a Product for the Last Six Years

Question 106

Multiple Choice

The demand for a product for the last six years has been 15, 15, 17, 18, 20, and 19. The manager wants to predict the demand for this time series using the following simple linear trend equation: trt = 12 + 2t. What are the forecast errors for the 5th and 6th years?


A) 0, −3
B) 0, +3
C) +2, +5
D) −2, −5
E) −1, −4

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q101: Consider the quarterly production data (in thousands

Q102: Consider the regression equation <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7056/.jpg" alt="Consider

Q103: The no-trend time series model is given

Q104: Consider the regression equation <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7056/.jpg" alt="Consider

Q105: Consider the following data and calculate S<sub>1</sub>

Q107: The upward or downward movement that characterizes

Q108: Holt-Winters double exponential smoothing would be an

Q109: The linear trend equation for the following

Q110: Consider the following set of quarterly sales

Q111: The multiplicative Winters method used to forecast