QMB 3200 UCF UPDATED COMPLETE
QUESTIONS AND ANSWERS VERIFIED
PREPARATION RESOURCE
●● Durbin-Watson test
Answer: A test to determine whether first-order autocorrelation is
present.
●● General linear model
Answer: A model of the form y=β0+β1z1+β2z2+⋯+βpzp+ε, where each
of the independent variables zj(j=1,2,...,p) is a function of x1,x2,...,xk,
the variables for which data have been collected.
●● interaction
Answer: The effect produced when the levels of one factor interact with
the levels of another factor in influencing the response variable.
The effect of two independent variables acting together.
●● variable selection procedures
Answer: Methods for selecting a subset of the independent variables for
a regression model.
,●● Time series
Answer: A sequence of observations on a variable measured at
successive points in time or over successive periods of time.
●● Mean Squared Error (MSE)
Answer: The average of the sum of squared forecast errors.
●● Time series plot
Answer: A graphical presentation of the relationship between time and
the time series variable. Time is shown on the horizontal axis and the
time series values are shown on the vertical axis.
●● horizontal pattern
Answer: A horizontal pattern exists when the data fluctuate around a
constant mean.
●● moving average
Answer: A forecasting method that uses the average of the most recent k
data values in the time series as the forecast for the next period.
●● stationary time series
, Answer: A time series whose statistical properties are independent of
time. For a stationary time series the process generating the data has a
constant mean and the variability of the time series is constant over time.
●● trend pattern
Answer: A trend pattern exists if the time series plot shows gradual shifts
or movements to relatively higher or lower values over a longer period
of time.
●● smoothing constant
Answer: A parameter of the exponential smoothing model that provides
the weight given to the most recent time series value in the calculation of
the forecast value.
●● seasonal pattern
Answer: A seasonal pattern exists if the time series plot exhibits a
repeating pattern over successive periods. The successive periods are
often one-year intervals, which is where the name seasonal pattern
comes from.
●● cyclical pattern
Answer: A cyclical pattern exists if the time series plot shows an
alternating sequence of points below and above the trend line lasting
more than one year.
QUESTIONS AND ANSWERS VERIFIED
PREPARATION RESOURCE
●● Durbin-Watson test
Answer: A test to determine whether first-order autocorrelation is
present.
●● General linear model
Answer: A model of the form y=β0+β1z1+β2z2+⋯+βpzp+ε, where each
of the independent variables zj(j=1,2,...,p) is a function of x1,x2,...,xk,
the variables for which data have been collected.
●● interaction
Answer: The effect produced when the levels of one factor interact with
the levels of another factor in influencing the response variable.
The effect of two independent variables acting together.
●● variable selection procedures
Answer: Methods for selecting a subset of the independent variables for
a regression model.
,●● Time series
Answer: A sequence of observations on a variable measured at
successive points in time or over successive periods of time.
●● Mean Squared Error (MSE)
Answer: The average of the sum of squared forecast errors.
●● Time series plot
Answer: A graphical presentation of the relationship between time and
the time series variable. Time is shown on the horizontal axis and the
time series values are shown on the vertical axis.
●● horizontal pattern
Answer: A horizontal pattern exists when the data fluctuate around a
constant mean.
●● moving average
Answer: A forecasting method that uses the average of the most recent k
data values in the time series as the forecast for the next period.
●● stationary time series
, Answer: A time series whose statistical properties are independent of
time. For a stationary time series the process generating the data has a
constant mean and the variability of the time series is constant over time.
●● trend pattern
Answer: A trend pattern exists if the time series plot shows gradual shifts
or movements to relatively higher or lower values over a longer period
of time.
●● smoothing constant
Answer: A parameter of the exponential smoothing model that provides
the weight given to the most recent time series value in the calculation of
the forecast value.
●● seasonal pattern
Answer: A seasonal pattern exists if the time series plot exhibits a
repeating pattern over successive periods. The successive periods are
often one-year intervals, which is where the name seasonal pattern
comes from.
●● cyclical pattern
Answer: A cyclical pattern exists if the time series plot shows an
alternating sequence of points below and above the trend line lasting
more than one year.
