Which of the following is not true? Question 6 options:1)Climate involves statistics (e.g., long-term averages) but weather considers conditions at a particular time and place (e.g., one week of this summer). 2)The current weather at a location can be characterized by a single measurement, but climate requires many years of measurements (typically around 30) to characterize.3)Both weather and climate can vary regionally (e.g., from one side of a mountain range to another).4)Climate only refers to temperatures, but weather also includes other factors like wind, rain, and snow.

Understanding the distinctions between weather and climate is fundamental to grasping how our…

Answered: Which of the following is not true?…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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q1- Daily highs in Sacramento for the past week (from least to most recent) were: 95, 102, 101, 96, 95, 90 and 92. Develop a forecast for today using a weighted moving average, with weights of .6, .3 and .1, where the highest weights are applied to the most recent dataq2- Consider the following demand and forecast. Period Demand Forecast 1 7 10 2 12 15 3 18 20 4 22 If MAD = 2, what is the forecast for period 4? Answer 21 22 23 none of the aboveq3- A normal distribution has a mean of 500 and a standard deviation of 50. A manager wants to simulate one value from this distribution, and has drawn the number 1.4 randomly. What is the simulated value?Q4- The local operations manager for the IRS must decide whether to hire 1, 2, or 3 temporary workers. He estimates that net revenues will vary with how well taxpayers comply with the new tax code. The following payoff table is given in thousands of dollars (e.g. 50 = $50,000). If he thinks the chances of low, medium, and high compliance are…
How do you forecast a department or service area such as a pet store
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Question 18 A tire company needs a forecast for studded tires in the next forecast period. The company typically uses an exponential smoothing forecast using a smoothing constant of alpha = 0.20. The demand for the most recent period was 100 and the forecast for the same period was 110. Based on this information, what is the tire company's forecast for the next period? Group of answer choices a. 100 tires b. 102 tires c. 108 tires d. 110 tires e. Impossible to determine
10. Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 4 months were as follows: Month Price Per Chip January $1.85 February $1.61 March $1.63 April $1.83 This exercise contains only parts a, b, and c. Part 2 a) Using a 2-month moving average, calculate the forecast for March and April (round your responses to two decimal places). Month Mar Apr Forecast $________ $________
Font Paragraph Styles Question 3 Consider the following from an estate agent's business nationally: Month Houses Sold Jan Feb Mar 380 360 390 Apr May June July Aug Sep Oct 400 390 380 394 454 460 460 Nov Dec 430 370 a) Calculate the three point moving averages (quarters) and seasonal variation for the above data b) Define moving averages and how they're useful in forecasting (use Harvard referencing) c) At races, your horse, White Rum, has a probability of 1/20 of coming 1st, 1/10 of coming 2nd and a probability of 4 in coming 3rd. First place pays $5,000 to the winner, second place $4,000 and third place $1,350. Hence, is it worth entering the race if it costs $1050?
Q20
Calculate MSE for the 4 periods for which the actual and forecasted number of customers given in the table below: Forecasted Actual Number Period Number of Error of Customers Customers 1 1,975 2,000 2 2,050 2,025 3 1,925 1,975 4 2,075 2,025 390.63 37.5 6,250 True1,562.5
Question 1. The dean of a school of business is forecasting total student enrollment for this year (2019ys summer session classes based on the following historical data: YEAR TOTAL ENROLLMENT y 2,000 2,200 2,800 3,000 2015 2016 2017 2018 a) What is this year's forecast using a three-year simple moving average?
QUESTION 4 Suppose the following are the seasonal indices for the first three quarters of the year for a quarterly series: Quarter Seasonal Index Q1 72.4 Q2 85.3 Q3 109.6 Remember that the seasonal indices should average 100 so you should be able to infer the seasonal index for Q4. Furthermore, suppose that the estimated coeffcients from a regression of the deseasonalized series on Time are given below: Coefficients Intercept 2,506 Time 71.3 If the original value of the series in a Q1 was 2,040, then what is the seasonally adjusted value? (please round your answer to 1 decimal place)
Part C
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1)	Climate involves statistics (e.g., long-term averages) but weather considers conditions at a particular time and place (e.g., one week of this summer).
2)	The current weather at a location can be characterized by a single measurement, but climate requires many years of measurements (typically around 30) to characterize.
3)	Both weather and climate can vary regionally (e.g., from one side of a mountain range to another).
4)	Climate only refers to temperatures, but weather also includes other factors like wind, rain, and snow.