QMB 3200 MIDTERM EXAM 2024-2025
ACTUAL EXAM 2 VERSIONS (VERSION
A AND B) COMPLETE ACTUAL EXAM
QUESTIONS WITH DETAILED VERIFIED
ANSWERS
Which of the following statements regarding a time
series technique is true? - answerTime 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? - answerSimple
exponential smoothing
Which of the following correlation coefficient values
represents the strongest positive correlation
between two factors in a data set? - answerr-=0.931
, It is NOT possible for a forecast to be both
responsive and inaccurate. - answerFalse
In a time series, what is a black swan? - answera
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 ____ -
answerthe slope and intercept
Averaging forecast errors over time results in the
performance measure known as *****? -
answermean error
What is the ME for the forecast errors of 5, 10, 0,
and -3? - answer3
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 - answerexogenous
Several forecasting methods rely on insights from a
group of people, but which method does NOT have
the group discuss their opinions? - answerDelphi
Groups
Which of the following forecasting measures
calculates the average of the absolute values of a
set of forecast errors? - answerMAD
The alpha value (o) in the exponential smoothing
formula is known as the - answersmoothing constant
ACTUAL EXAM 2 VERSIONS (VERSION
A AND B) COMPLETE ACTUAL EXAM
QUESTIONS WITH DETAILED VERIFIED
ANSWERS
Which of the following statements regarding a time
series technique is true? - answerTime 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? - answerSimple
exponential smoothing
Which of the following correlation coefficient values
represents the strongest positive correlation
between two factors in a data set? - answerr-=0.931
, It is NOT possible for a forecast to be both
responsive and inaccurate. - answerFalse
In a time series, what is a black swan? - answera
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 ____ -
answerthe slope and intercept
Averaging forecast errors over time results in the
performance measure known as *****? -
answermean error
What is the ME for the forecast errors of 5, 10, 0,
and -3? - answer3
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 - answerexogenous
Several forecasting methods rely on insights from a
group of people, but which method does NOT have
the group discuss their opinions? - answerDelphi
Groups
Which of the following forecasting measures
calculates the average of the absolute values of a
set of forecast errors? - answerMAD
The alpha value (o) in the exponential smoothing
formula is known as the - answersmoothing constant
