AN 300 Final Exam Latest
Update
Which of the following statements about time-series forecasting is
TRUE? Check all that apply.
-It only works with trend data patterns.
-It is a predictive analytics method.
-It is a predictive analytics technique.
-It applies to strategic planning by predicting market growth rate.
-It needs data on observations of an item of interest over time.
-It answers what should happen questions.
-It predicts the future outcome of the item of interest. - ANSWER
-It is a predictive analytics technique.
-It applies to strategic planning by predicting market growth rate.
-It needs data on observations of an item of interest over time.
-It predicts the future outcome of the item of interest.
What kind of data pattern is depicted in the following line graph?
Check all that apply.
Its a graph with a straight red line angled positively. There is a Blue
line that begins below the red line and then had alternating periods
above and below the line.
-Trend
-Random
,-Level
-Seasonality
-Cycle - ANSWER -Trend
-Seasonality
A recurring pattern that occurs at set periods within a larger time
frame. - ANSWER Seasonality
A gradual increase in values over time. - ANSWER Upward Trend
A gradual decrease in values over time. - ANSWER Downward
Trend
A constant average value over time. - ANSWER Level
Which of the following is a business application of time series
forecasting?
-Sales forecast of swimsuits from advertising expenditure.
-Sales forecast of swimsuits from a survey of vacationers.
-Sales forecasts of swimsuits from past records.
-Sales forecast of swimsuits from demand of sunglasses. - ANSWER
-Sales forecasts of swimsuits from past records.
Match the characteristics on the left with the most appropriate
forecasting methods to which it applies on the right.
It requires only one historical data value. - ANSWER Naive
It adapts readily to sudden shifts in data pattern. - ANSWER Naive
It requires the data points in the time series as well as the number of
periods used in forecasting. - ANSWER Simple moving average
It is a weighted average of all prior historical actual vales. -
ANSWER Exponential smoothing average
It uses the "best fit" linear trend line to make predictions. -
, ANSWER Linear Regression
It uses indicator variables to capture variations. - ANSWER Linear
regression for seasonality
Which of the following statements about time-series forecasting
methods is TRUE? Check all that apply.
-Linear Regression is the method of choice for data with a trend
pattern.
-You choose a large value for alpha when using the Exponential
Smoothing method to give less weight to the most recent data.
-Linear Regression for Seasonality without Trend method is
appropriate for data with a seasonal pattern only.
-There is no time-series forecasting method for data with both
seasonal and trend patterns.
-You choose a small value for "k" when using the Simple Moving
Average method of order "k" to track movement in the most recent
data.
-Linear Regression uses the time period as the dependent variable.
-The Simple Average method is also known as the Historical Moving
Average method. - ANSWER -Linear Regression is the method of
choice for data with a trend pattern.
-Linear Regression for Seasonality without Trend method is
appropriate for data with a seasonal pattern only.
-You choose a small value for "k" when using the Simple Moving
Average method of order "k" to track movement in the most recent
data.
-The Simple Average method is also known as the Historical Moving
Average method.
Given the following sales data (in $000) for C&A's product:
Update
Which of the following statements about time-series forecasting is
TRUE? Check all that apply.
-It only works with trend data patterns.
-It is a predictive analytics method.
-It is a predictive analytics technique.
-It applies to strategic planning by predicting market growth rate.
-It needs data on observations of an item of interest over time.
-It answers what should happen questions.
-It predicts the future outcome of the item of interest. - ANSWER
-It is a predictive analytics technique.
-It applies to strategic planning by predicting market growth rate.
-It needs data on observations of an item of interest over time.
-It predicts the future outcome of the item of interest.
What kind of data pattern is depicted in the following line graph?
Check all that apply.
Its a graph with a straight red line angled positively. There is a Blue
line that begins below the red line and then had alternating periods
above and below the line.
-Trend
-Random
,-Level
-Seasonality
-Cycle - ANSWER -Trend
-Seasonality
A recurring pattern that occurs at set periods within a larger time
frame. - ANSWER Seasonality
A gradual increase in values over time. - ANSWER Upward Trend
A gradual decrease in values over time. - ANSWER Downward
Trend
A constant average value over time. - ANSWER Level
Which of the following is a business application of time series
forecasting?
-Sales forecast of swimsuits from advertising expenditure.
-Sales forecast of swimsuits from a survey of vacationers.
-Sales forecasts of swimsuits from past records.
-Sales forecast of swimsuits from demand of sunglasses. - ANSWER
-Sales forecasts of swimsuits from past records.
Match the characteristics on the left with the most appropriate
forecasting methods to which it applies on the right.
It requires only one historical data value. - ANSWER Naive
It adapts readily to sudden shifts in data pattern. - ANSWER Naive
It requires the data points in the time series as well as the number of
periods used in forecasting. - ANSWER Simple moving average
It is a weighted average of all prior historical actual vales. -
ANSWER Exponential smoothing average
It uses the "best fit" linear trend line to make predictions. -
, ANSWER Linear Regression
It uses indicator variables to capture variations. - ANSWER Linear
regression for seasonality
Which of the following statements about time-series forecasting
methods is TRUE? Check all that apply.
-Linear Regression is the method of choice for data with a trend
pattern.
-You choose a large value for alpha when using the Exponential
Smoothing method to give less weight to the most recent data.
-Linear Regression for Seasonality without Trend method is
appropriate for data with a seasonal pattern only.
-There is no time-series forecasting method for data with both
seasonal and trend patterns.
-You choose a small value for "k" when using the Simple Moving
Average method of order "k" to track movement in the most recent
data.
-Linear Regression uses the time period as the dependent variable.
-The Simple Average method is also known as the Historical Moving
Average method. - ANSWER -Linear Regression is the method of
choice for data with a trend pattern.
-Linear Regression for Seasonality without Trend method is
appropriate for data with a seasonal pattern only.
-You choose a small value for "k" when using the Simple Moving
Average method of order "k" to track movement in the most recent
data.
-The Simple Average method is also known as the Historical Moving
Average method.
Given the following sales data (in $000) for C&A's product:
