Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13, 15 (listed from oldest to most recent). Forecast sales for the next day using a three-day weighted moving average where the weights are 3, 1, and 1 (the highest weight is for the most recent number).(Points : 1)
12.8
13.0
70.0
14.0
| Question 2. 2.Which of the following is not classified as a qualitative forecasting model?(Points : 1) |
exponential smoothing
Delphi method
jury of executive opinion
sales force composite |
| Question 3. 3.When both trend and seasonal components are present in time series, which of the following is most appropriate?(Points : 1) |
the use of centered moving averages
the use of moving averages
the use of weighted moving averages
the use of double smoothing |
| Question 4. 4.The correlation coefficient resulting from a particular regression analysis was 0.25. What was the coefficient of determination?(Points : 1) |
0.5
-0.5
0.0625
There is insufficient information to answer the question. |
| Question 5. 5.Which of the following is a technique used to determine forecasting accuracy?(Points : 1) |
exponential smoothing
moving average
Delphi method
mean absolute percent error |
| Question 6. 6.When is the exponential smoothing model equivalent to the naïve forecasting model?(Points : 1) |
a = 0
a = 0.5
a = 1
never |
| Question 7. 7.Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13, 15 (listed from oldest to most recent). Forecast sales for the next day using a two-day moving average.(Points : 1) |
14
13
15
28 |
| Question 8. 8.Which of the following statements is true about r2?(Points : 1) |
It is also called the coefficient of correlation.
It is also called the coefficient of determination.
It represents the percent of variation in X that is explained by Y.
It represents the percent of variation in the error that is explained by Y. |
| Question 9. 9.Which of the following statements is not true about regression models?(Points : 1) |
Estimates of the slope are found from sample data.
The regression line minimizes the sum of the squared errors.
The dependent variable is the explanatory variable.
The intercept coefficient is not typically interpreted. |
| Question 10. 10.Enrollment in a particular class for the last four semesters has been 120, 126, 110, and 130. Suppose a one-semester moving average was used to forecast enrollment (this is sometimes referred to as a naïve forecast). Thus, the forecast for the second semester would be 120, for the third semester it would be 126, and for the last semester it would be 110. What would the MSE be for this situation?(Points : 1) |
196.00
230.67
100.00
42.00 |
| Question 11. 11.If computing a causal linear regression model of Y = a + bX and the resultant r2 is very near zero, then one would be able to conclude that(Points : 1) |
Y = a + bX is a good forecasting method.
Y = a + bX is not a good forecasting method.
a multiple linear regression model is a good forecasting method for the data.
a multiple linear regression model is not a good forecasting method for the data. |
| Question 12. 12.A medium-term forecast is considered to cover what length of time?(Points : 1) |
2-4 weeks
1 month to 1 year
2-4 years
5-10 years |
| Question 13. 13.Enrollment in a particular class for the last four semesters has been 120, 126, 110, and 130 (listed from oldest to most recent). Develop a forecast of enrollment next semester using exponential smoothing with an alpha = 0.2. Assume that an initial forecast for the first semester was 120 (so the forecast and the actual were the same).(Points : 1) |
118.96
121.17
130
120 |
| Question 14. 14.Which of the following is considered to be one of the components of a time series?(Points : 1) |
trend
seasonality
cycles
All of the above |
| Question 15. 15.Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13, 15 (listed from oldest to most recent). Forecast sales for the next day using a two-day weighted moving average where the weights are 3 and 1 are(Points : 1) |
14.5.
13.5.
14.
12.25. |
| Question 16. 16.A seasonal index of ________ indicates that the season is average.(Points : 1) |
0.1
0.5
0
1 |
| Question 17. 17.Enrollment in a particular class for the last four semesters has been 122, 128, 100, and 155 (listed from oldest to most recent). The best forecast of enrollment next semester, based on a three-semester moving average, would be(Points : 1) |
116.7.
126.3.
127.7.
135.0. |
| Question 18. 18.Which of the following methods gives an indication of the percentage of forecast error?(Points : 1) |
MAD
MSE
MAPE
decomposition |
| Question 19. 19.A graphical plot with sales on the Y axis and time on the X axis is a(Points : 1) |
scatter diagram.
trend projection.
radar chart.
line graph. |
|
Question 20.20.Demand for soccer balls at a new sporting goods store is forecasted using the following regression equation: Y = 98 + 2.2X where X is the number of months that the store has been in existence. Let April be represented by X = 4. April is assumed to have a seasonality index of 1.15. What is the forecast for soccer ball demand for the month of April (rounded to the nearest integer)?(Points : 1)
|
123
107
100
115 |
