QMB 3200 MIDTERM REVISION
QUESTIONS AND THEIR ANSWERS
Which of the following statements regarding a time series
technique is true?
Time series techniques focus on the historical behavior of some
outcome of interest to predict its future behavior.
Which time series technique predicts a future value by
combining the previous prediction and some portion of the
error in the prediction?
Simple exponential smoothing
Which of the following correlation coefficient values
represents the strongest positive correlation between two
factors in a data set?
r-=0.931
It is NOT possible for a forecast to be both responsive and
inaccurate.
False
In a time series, what is a black swan?
a particularly high-impact incident of extreme consequence
that is unexpected or considered highly improbable
, Calculating a regression equation for a given set of data
identifies the specific values of ____
the slope and intercept
Averaging forecast errors over time results in the performance
measure known as *****?
mean error
What is the ME for the forecast errors of 5, 10, 0, and -3?
3
one-time shocks to a time series from a distinctly external
influence, such as a sudden dip in consumer sales after a
disruptive event, are called ____ variations
exogenous
Several forecasting methods rely on insights from a group of
people, but which method does NOT have the group discuss
their opinions?
Delphi Groups
Which of the following forecasting measures calculates the
average of the absolute values of a set of forecast errors?
MAD
The alpha value (o) in the exponential smoothing formula is
known as the
smoothing constant
QUESTIONS AND THEIR ANSWERS
Which of the following statements regarding a time series
technique is true?
Time series techniques focus on the historical behavior of some
outcome of interest to predict its future behavior.
Which time series technique predicts a future value by
combining the previous prediction and some portion of the
error in the prediction?
Simple exponential smoothing
Which of the following correlation coefficient values
represents the strongest positive correlation between two
factors in a data set?
r-=0.931
It is NOT possible for a forecast to be both responsive and
inaccurate.
False
In a time series, what is a black swan?
a particularly high-impact incident of extreme consequence
that is unexpected or considered highly improbable
, Calculating a regression equation for a given set of data
identifies the specific values of ____
the slope and intercept
Averaging forecast errors over time results in the performance
measure known as *****?
mean error
What is the ME for the forecast errors of 5, 10, 0, and -3?
3
one-time shocks to a time series from a distinctly external
influence, such as a sudden dip in consumer sales after a
disruptive event, are called ____ variations
exogenous
Several forecasting methods rely on insights from a group of
people, but which method does NOT have the group discuss
their opinions?
Delphi Groups
Which of the following forecasting measures calculates the
average of the absolute values of a set of forecast errors?
MAD
The alpha value (o) in the exponential smoothing formula is
known as the
smoothing constant
