Differentiate between a time series and a spatial series.
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A: PeriodOutput16.524.639.8413.656.965710.4814.1
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Q: Period Value Jan-2005 441 Feb-2005 446 Mar-2005 445 Apr-2005 445 May-2005 450 Jun-2005 455 Jul-2005…
A: PeriodYearValue1200544122005446320054454200544552005450620054557200546482005476920054871020054901120…
Q: his is wrong. You haven't calculated the right time frames.
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A: QuarterYear 1Year 2Year 31716862249415135860534827871
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- An annual marathon covers a route that has a distance of approximately 26 miles. Winning times for this marathon are all over 2 hours. The following data are the minutes over 2 hours for the winning male runners over two periods of 20 years each. Earlier Period 6 22 23 14 15 20 15 18 7 18 15 10 10 14 16 12 23 13 16 16 Recent Period 8 8 7 9 9 10 8 14 8 11 14 7 9 9 10 7 7 8 9 9 (a) Make a stem-and-leaf display for the minutes over 2 hours of the winning times for the earlier period. Use two lines per stem. (Use the tens digit as the stem and the ones digit as the leaf. Enter NONE in any unused answer blanks Minutes Beyond 2 Hours Earlier Period 0 NONE 0 6,7 1 ? 1 ? 2 0,2,3,3 2 NONE (b) Make a stem-and-leaf display for the minutes over 2 hours of the winning times for the recent period. Use two lines per stem. (Use the tens digit as the stem and the ones digit as the leaf. Enter NONE in any unused answer blanks.) Minutes Beyond 2 HoursRecent Period…1. Which of the following is an example of time series problem? a. Estimating number of covid 19 patients in next 6 months. b. Estimating the total sales in next 3 years of an insurance company. c. Estimating your CGPA for Summer 2021. a) Only a b) Only b c) Only a & b d) All 3 of them 2. Which of the following can't be a component for a time series plot? a) Seasonality b) Trend c) Cyclical d) None of the above 3. If the demand is 100 during October 2016, 200 in November 2016, 300 in December 2016, 400 in January 2017. What is the 3-month simple moving average for February 2017? a) 300 b) 350 c) 400 d) Need more information 4. A regression equation for weight (y variable) and height (x variable) for 55 college students gave an error sum of squares (SSE) of 10.7 and a total sum of squares (SSTO) of 85.2. The proportion of variation explained by x, R³, is a) 11.2% b) 87.4% c) 88.6% d) None of the aboveDiscuss whether you believe time series to be an effective forecasting tool. Identify two of the most common mistakes made in completing a time series forecast and share an example of each mistake.
- QUESTION Samuel is a butchery vendor at a local open market. His daily income and the number of hours worked for the first ten days after the lockdown period is shown below: Day Income (N$) Number of hours 1 800 6 2 900 8 3 600 4 4 1200 5 5 1400 9 6 2000 9 7 1400 8 8 900 6 9 1300 7 10 1400 8 REQUIRED TO; determine whether it is the data time series or cross sectional? Motivate the reason. Calculate and interpret the following descriptive measures for the random variable Income: Mean Median Mode 33rd percentile Interquartile range 3. Calculate and interpret the covariance between the random variables Income and Number of hours worked. 4. Calculate and interpret the correlation coefficient between the random…The number of users of a certain website (in millions) from 2004 through 2011 follows. Year Period Users (Millions) 2004 1 1 2005 2 5 2006 3 11 2007 4 59 2008 5 146 2009 6 360 2010 7 608 2011 8 846 (a) Construct a time series plot. -A time series plot contains a series of 8 points connected by line segments. The horizontal axis ranges from 0 to 10 and is labeled: Period. The vertical axis ranges from 0 to 900 and is labeled: Millions of Users. The first point is at approximately (1, 850). The rest are plotted from left to right at regular increments of 1 period in a downward, diagonal direction that becomes less steep as period increases. The last point is at approximately (8, 0). -A time series plot contains a series of 8 points connected by line segments. The horizontal axis ranges from 0 to 10 and is labeled: Period. The vertical axis ranges from 0 to 900 and is labeled: Millions of Users. The first point is at approximately (1, 0). The rest are…Please do not rely too much on chatgpt, because its answer may be wrong. Please consider it carefully and give your own answer. You can borrow ideas from gpt, but please do not believe its answer.Very very grateful!
- Question 2: Find the trend for the time series using moving average method. Forecast for Year 4 quarter 4 Year Sales (000's) Quarter 1 Quarter 2 Quarter 3 Quarter 4 1 25 42 55 36 16 50 53 40 28 58 69 59 2N 3.Consider the following time series data. Month 1 2 3 4 5 6 7 Value 25 14 21 13 20 24 16 (a) Construct a time series plot. -A time series plot contains a series of 7 points connected by line segments. The horizontal axis ranges from 0 to 8 and is labeled: Month. The vertical axis ranges from 0 to 30 and is labeled: Time Series Value. The points are plotted from left to right at regular increments of 1 month starting at month 1. The points appear to vary randomly between 8 to 20 on the vertical axis. The plot reaches its maximum time series value at month 1. -A time series plot contains a series of 7 points connected by line segments. The horizontal axis ranges from 0 to 8 and is labeled: Month. The vertical axis ranges from 0 to 30 and is labeled: Time Series Value. The points are plotted from left to right at regular increments of 1 month starting at month 1. The points appear to vary randomly between 8 to 20 on the vertical axis. The plot reaches its maximum time…c) Following three forecasting techniques were used to predict the value of a time series. These are given in the following table. Forecasting Value F Technique 2 Actual value yt Technique 1 Technique 3 17 21 22 19 27 24 20 24 29 26 25 28 28 32 38 31 31 35 30 39 For each, calculate the mean absolute deviations (MAD) and sum of squares for forecast error (SSFE) to determine which was most accurate.
- A researcher studies water clarity at the same location in a lake on the same dates during the course of a year and repeats the measurements on the same dates 5 years later. The researcher immerses a weighted disk painted black and white and measures the depth (in inches) at which it is no longer visible. The collected data is given in the table below. Complete parts (a) through (c) below Observation 3 4 Date 1/25 3/19 5/30 7/3 9/13 11/7 Initial Depth, X, 57.1 67.5 70.3 41.2 70.9 44.3 Depth Five Years Later, Y, 54.6 67.7 67.4 41.9 66.6 47.6 a) Why is it important to take the measurements on the same date? O A. Those are the same dates that all biologists use to take water clarity samples. O B. Using the same dates maximizes the difference in water clarity. O C. Using the same dates makes it easier to remember to take samples. O D. Using the same dates makes the second sample dependent on the first and reduces variability in water clarity attributable to date. b) Does the evidence…An annual marathon covers a route that has a distance of approximately 26 miles. Winning times for this marathon are all over 2 hours. The following data are the minutes over 2 hours for the winning male runners over two periods of 20 years each. Earlier Period: 15 19 6 13 10 16 7 17 14 16 23 14 13 20 18 23 22 10 16 13 Recent Period: 7 11 8 9 10 7 10 7 8 14 7 9 7 9 9 9 14 8 9 8 (a) Make a stem-and-leaf display for the minutes over 2 hours of the winning times for the earlier period. Use two lines per stem. (Use the tens digit as the stem and the ones digit as the leaf. Enter NONE in any unused answer blanks. For more details, view How to Split a Stem.) Minutes Beyond 2 Hours - EARLIER PERIOD 0 NONE 0 6 7 1 ? 1 ? 2 0 2 3 3 2 NONE (b) Make a stem-and-leaf display for the minutes over 2 hours of the winning times for the recent period. Use two lines per stem. (Use the tens digit as the stem and the ones digit as the leaf. Enter NONE in any unused answer blanks.) Minutes…