Exam 2 - CBAD 292 questions with
verified solutions rated A+
All of the following are true about a cyclical pattern except - correct answer ✔✔It usually is easier to
forecast than a seasonal pattern due to less variability.
All of the following are true about a stationary time series except: - correct answer ✔✔There is no
variability in the time series over time.
All of the following are true about qualitative forecasting methods except - correct answer ✔✔They
assume the pattern of the past will continue into the future.
All of the following are true about time series methods except - correct answer ✔✔They involve the use
of expert judgment to develop forecasts.
Forecast errors - correct answer ✔✔are the differences between actual and forecast values
Gradual shifting of a time series to relatively higher or lower values over a long period of time is called -
correct answer ✔✔trend.
If data for a time series analysis is collected on an annual basis only, which pattern does not need to be
considered? - correct answer ✔✔seasonal
In situations where you need to compare forecasting methods for different time periods, the most
appropriate accuracy measure is - correct answer ✔✔MAPE
Linear trend is calculated as Yt = 28.5 + .75t . The trend projection for period 15 is - correct answer
✔✔39.75
One measure of the accuracy of a forecasting model is the - correct answer ✔✔mean absolute error
, Seasonal patterns - correct answer ✔✔are regular repeated patterns.
The focus of smoothing methods is to smooth out - correct answer ✔✔the random fluctuations.
The forecasting method that is appropriate when the time series has no significant trend, cyclical, or
seasonal pattern is - correct answer ✔✔moving average
The number of pizzas ordered on Friday evenings between 5:30 and 6:30 at a pizza delivery location for
the last 10 weeks is shown below.
58, 46, 55, 39, 42, 63, 54, 55, 61, 52
Use exponential smoothing with smoothing constants of .2 and .8 to forecast a value for week 11.
Which smoothing constant would you prefer? (Please choose the alpha with the smaller MSE. ) - correct
answer ✔✔α = .2
The trend pattern is easy to identify by using - correct answer ✔✔regression analysis
To select a value for α for exponential smoothing - correct answer ✔✔All of the alternatives are true.
Use a four-period moving average to forecast attendance at baseball games.
Historical records show
5346, 7812, 6513, 5783, 5982, 6519, 6283, 5577, 6712, 7345
WHAT IS THE FORECAST FOR PERIOD 11 - correct answer ✔✔6479.25
verified solutions rated A+
All of the following are true about a cyclical pattern except - correct answer ✔✔It usually is easier to
forecast than a seasonal pattern due to less variability.
All of the following are true about a stationary time series except: - correct answer ✔✔There is no
variability in the time series over time.
All of the following are true about qualitative forecasting methods except - correct answer ✔✔They
assume the pattern of the past will continue into the future.
All of the following are true about time series methods except - correct answer ✔✔They involve the use
of expert judgment to develop forecasts.
Forecast errors - correct answer ✔✔are the differences between actual and forecast values
Gradual shifting of a time series to relatively higher or lower values over a long period of time is called -
correct answer ✔✔trend.
If data for a time series analysis is collected on an annual basis only, which pattern does not need to be
considered? - correct answer ✔✔seasonal
In situations where you need to compare forecasting methods for different time periods, the most
appropriate accuracy measure is - correct answer ✔✔MAPE
Linear trend is calculated as Yt = 28.5 + .75t . The trend projection for period 15 is - correct answer
✔✔39.75
One measure of the accuracy of a forecasting model is the - correct answer ✔✔mean absolute error
, Seasonal patterns - correct answer ✔✔are regular repeated patterns.
The focus of smoothing methods is to smooth out - correct answer ✔✔the random fluctuations.
The forecasting method that is appropriate when the time series has no significant trend, cyclical, or
seasonal pattern is - correct answer ✔✔moving average
The number of pizzas ordered on Friday evenings between 5:30 and 6:30 at a pizza delivery location for
the last 10 weeks is shown below.
58, 46, 55, 39, 42, 63, 54, 55, 61, 52
Use exponential smoothing with smoothing constants of .2 and .8 to forecast a value for week 11.
Which smoothing constant would you prefer? (Please choose the alpha with the smaller MSE. ) - correct
answer ✔✔α = .2
The trend pattern is easy to identify by using - correct answer ✔✔regression analysis
To select a value for α for exponential smoothing - correct answer ✔✔All of the alternatives are true.
Use a four-period moving average to forecast attendance at baseball games.
Historical records show
5346, 7812, 6513, 5783, 5982, 6519, 6283, 5577, 6712, 7345
WHAT IS THE FORECAST FOR PERIOD 11 - correct answer ✔✔6479.25
