Homework SourseBusiness stat 1A time series is a collection of data recorde
Business stat
1.A time series is a collection of data recorded over a period of time, usually monthly, quarterly, or yearly.
True
False
1 points
QUESTION 2
One component of a time series is cyclical variation. An example of cyclical variation is the business cycle that consists of periods of prosperity followed by periods of recession, depression, and recovery.
True
False
1 points
QUESTION 3
In the linear trend equation, the letter \"b\" is the average change in t for each change of one unit (either increase or decrease) in Y.
True
False
1 points
QUESTION 4
If the sales, production or other data over a period of time tend to approximate a straight-line trend, the equation developed by the least squares method cannot be used to forecast sales for a future period.
True
False
1 points
QUESTION 5
A straight-line trend equation is used to represent the time series when it is believed that the data is increasing (or decreasing) by equal amounts, on the average, from one period to another.
True
False
1 points
QUESTION 6
A typical monthly seasonal index of 107.0 indicates that sales (or whatever the variable is) for the corresponding month is 107 percent above the annual average.
True
False
1 points
QUESTION 7
The trend component of a time series is obtained by minimizing the sum of the squares of the errors.
True
False
1 points
QUESTION 8
For a monthly time series, the initial step, using the ratio-to-moving average method, is to remove the seasonal and irregular components from the time series using a 12-month moving average.
True
False
1 points
QUESTION 9
The reason for deseasonalizing a sales series is to remove trend and cyclical fluctuations so that we can study seasonal fluctuations.
True
False
1 points
QUESTION 10
An analysis of past seasonal fluctuations can be helpful in planning production for items such as toys, dolls, Easter eggs, and other holiday-oriented goods.
True
False
1 points
QUESTION 11
Economic periods of prosperity followed by recession are described as:
A) Secular trend
B) Seasonal variation
C) Cyclical variation
D) Erratic variation
1 points
QUESTION 12
The following linear trend equation was developed for annual sales from 1995 to 2001 with 1995 the base or zero year. Y\' = 500 + 60t (in $ thousands). What are the estimated sales for 2005 (in $ thousands)?
A) $ 500
B) $ 560
C) $1,040
D) $1,100
1 points
QUESTION 13
What is the formula for \" a\" in the least squares trend equation using the coded method?
A) ( ? Y b ? t ) n
B) ? X n
C) ? X Y n
D) X times Y
A) ( ? Y b ? t ) n
B) ?X n
C) ? X Y n
D) X times Y
1 points
QUESTION 14
A time series is a collection of data that:
A) Records past performance
B) Records future performance
C) is limited to yearly data
is limited to quarterly data
1 points
QUESTION 15
The crash of the telecommunications industry in 2000 exerted an impact on the economy that could be classified as:
A) Secular trend
B) Episodic variation
C) Residual variation
D) Seasonal variation
1 points
QUESTION 16
Given the trend equation Y\' = 25 + 0.6t (base year = 2000), what would be the forecast value for 2004?
A) 25
B) 28
C) 30
D) 32
1 points
QUESTION 17
How will data which increases or decreases by equal percents when plotted on graph paper having an arithmetic scale appear?
A) Straight line
B) Linear
C) Curvilinear
D) Both \"A\" and \"B\" are correct
1 points
QUESTION 18
If a quarterly seasonal index is 0.56, it implies that
A) the quarter\'s sales are 56% above the yearly average.
B) the quarter\'s sales are 56% of the year total sales.
C) the other three quarter percentages will total 44%.
D) the quarter\'s sales are 56% of the yearly average.
1 points
QUESTION 19
Given a linear time series trend, Y\' = 5.2 + 3.1t, what is the forecast for 2002 if the time series started in 1995?
A) 23.8
B) 26.9
C) 30.0
D) 21.7
1 points
QUESTION 20
For a five-year moving average, how many values will be lost at the beginning and end of the time series?
A) 0 at the start and 4 at the end
B) 3 at the start and 3 at the end
C) 2 at the start and 2 at the end
D) 0 at the start and 5 at the end
1 points
| A) Secular trend | ||
| B) Seasonal variation | ||
| C) Cyclical variation | ||
| D) Erratic variation |
Solution
1. True
2. True
3. False (In the linear trend equation, the letter \"b\" is the average change in Y for each change of one unit (either increase or decrease) in t.)
4. False
5. True
6. False
7. True
8. False
9. False
10. True
11. Cyclical variation
12. $1,100
13. symbols missing
14. Records past performance
15. Episodic variation
16. 28
17. Curvilinear
18. the quarter\'s sales are 56% of the yearly average.
19. 26.9
20. 2 at the start and 2 at the end
