DA 662 Exam 2 Forecasting Spring 24'

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University of North Alabama *

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662

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Economics

Date

Feb 20, 2024

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pdf

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Uploaded by MegaSkunkMaster864

2 4/ 4pt Question 1 e You have three forecasting models with the following MSE values: Exponential Smoothing - 348.39 Regression - 336.85 Seasonal + Trend - 388.73 Which of the following statements best describes the data set given no other information is present? The data set contains a trend component with no seasonality. A 4/4pt Question 2 P Refer to the data for Samantha's Super Sectional Sofas. The defective percentages exhibit a statistically significant trend. False 9 4/4pt Question 3 Lol Refer to the data for Samantha's Super Sectional Sofas. Samantha's Quality Manager notified her that a data entry error occurred in the recording of defect %. Which quarter would you suspect? o 4/4pt Question 5 P Refer to the data for Samantha's Super Sectional Sofas. The sales exhibit a trend component. True A 4/ 4pt Question 6 = Refer to the data for Samantha's Super Sectional Sofas. The sales exhibit a seasonal component. True o 4/4pt Question 7 pts Refer to the data for Samantha's Super Sectional Sofas. If you were forecasting sales, you would eliminate certain time periods. True

9 4/4pt Question 8 P Refer to the data for Samantha's Super Sectional Sofas. The most appropriate method to use for forecasting sales is a trend and seasonal model. True A 4/4pts Question 9 5 Refer to the data for Danica’s Doughnut Den. The number of customers served exhibits a statistically significant trend. False Question 10 S Refer to the data for Danica's Doughnut Den. The number of customers served exhibits seasonality. False Question 11 4747 Refer to the data for Danica’s Doughnut Den. The number of customers served exhibits a cyclical component. False Question 12 SAERE Refer to the data for Danica’s Doughnut Den. Suppose Danica is offering a 20% discount on all orders during the next two weeks. The current pattern should be a reliable estimate for those weeks. False Question 13 Gl Refer to the data for Madison Machinery. The orders exhibit a trend. True

Question 14 Ll Refer to the data for Madison Machinery. The orders exhibit seasonality. True Question 15 AP Refer to the data for Madison Machinery. A regression is appropriate for the order data. False Question 16 47470 Refer to the data for Madison Machinery. We should use all of the data to forecast orders for the next 4 periods. False Question 17 i Refer to the data for Madison Machinery. Which of the following seems like the most reasonable forecast for the 17th quarter? 140 Question 18 SAS Refer to the data for Madison Machinery. Suppose the actual numbers of orders in the next four quarters are 119, 126, 122, 170. Which of the following statements is most appropriate? The most recent trend has changed. Question 19 LA Refer to the data for the Tireland GDP data. The data exhibit seasonality. False

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Question 20 S Refer to the data for the Tireland GDP data. The data exhibit trend. True 3 4/4pt Question 21 L Refer to the data for the Tireland GDP data. Exponential Smoothing is appropriate for the GDP forecasts. False N 4/4pts Question 22 - Refer to the data for the Tireland GDP data. If you were predicting GDP values for the next 2 years, you would use a trend + seasonality model. False . 4/4pts Question 23 Refer to the data for the Tireland GDP data. Which of the following recommendations is most appropriate? We should use the most recent 6 years if we want to forecast GDP for the next 2 years. - 4/4pt Question 24 PSS The MSE is not the most important concern when determining which model is most appropriate.. True - 0/4pt - Question 25 e In a given forecasting application, we observed 20 periods. For 4 of the periods, the forecast errors were negative. The other 16 forecasting errors were positive, This indicates that the forecasting method is performing poorly. False

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