APPLIED STAT.IN BUS.+ECONOMICS
APPLIED STAT.IN BUS.+ECONOMICS
6th Edition
ISBN: 9781259957598
Author: DOANE
Publisher: RENT MCG
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Chapter 14, Problem 1CR

Explain the difference between (a) stocks and flows; (b) cross-sectional and time-series data; (c) additive and multiplicative models.

(a)

Expert Solution
Check Mark
To determine

Explain the difference between stocks and flows.

Explanation of Solution

Stocks:

Stocks represents the data, it will be recorded at the particular point of time.

For example, a retail company checks the inventory at every end of month.

Flows:

Flows represents the data, it will be recorded during a period or interval of time.

For example, a retail company checks the whole income for a month and it will consider the whole month income.

(b)

Expert Solution
Check Mark
To determine

Explain the difference between the cross-sectional and time-series data.

Explanation of Solution

Cross-sectional data:

Cross-sectional data represents the data which is observed from the various studies at a same point of time.

Time-series data:

Time-series data represents the data which is observed over the periods of time.

(c)

Expert Solution
Check Mark
To determine

Explain the difference between the additive and multiplicative models.

Explanation of Solution

Additive model:

The additive model in time series decomposes the data into four parts, such as components trend ((T), cycle (C), seasonal (S) and irregular (I)) in the form of  Y=T+C+S+I. Here, Y denotes the additive model.

Multiplicative model:

The multiplicative model in time series decomposes the data into four components, such as trend ((T), cycle (C), seasonal (S) and irregular (I)) in the form of  Y=T×C×S×I. Here, Y denotes the multiplicative model.

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Chapter 14 Solutions

APPLIED STAT.IN BUS.+ECONOMICS

Ch. 14 - Name two advantages and two disadvantages of each...Ch. 14 - When would the exponential trend model be...Ch. 14 - Explain how to obtain the compound percent growth...Ch. 14 - (a) When might a quadratic model be useful? (b)...Ch. 14 - Name five measures of fit for a trend, and state...Ch. 14 - Prob. 10CRCh. 14 - Prob. 11CRCh. 14 - Prob. 12CRCh. 14 - (a) Why is seasonality irrelevant for annual data?...Ch. 14 - Prob. 14CRCh. 14 - (a) Explain how seasonal binaries can be used to...Ch. 14 - What is the purpose of index numbers?Ch. 14 - (a) Make a line chart for JetBlues revenue. (b)...Ch. 14 - (a) Plot both Swiss watch time series on the same...Ch. 14 - (a) Make a line graph of the U.S. civilian labor...Ch. 14 - (a) Plot the voter participation rate. (b)...Ch. 14 - For each of the following fitted trends, make a...Ch. 14 - (a) Make a line graph of consumer credit...Ch. 14 - (a) Plot the data on U.S. general aviation...Ch. 14 - Prob. 17CECh. 14 - (a) Plot either receipts and outlays or federal...Ch. 14 - Prob. 19CECh. 14 - (a) Plot the data on leisure and hospitality...Ch. 14 - Prob. 21CECh. 14 - Prob. 22CECh. 14 - (a) Plot the data on skier/snowboard visits. (b)...Ch. 14 - Prob. 24CECh. 14 - (a) Plot U.S. petroleum imports on a graph. (b)...Ch. 14 - (a) Make a line chart and fit an m-period moving...Ch. 14 - Refer to exercise 14.26. (a) Plot the dollar/pound...Ch. 14 - (a) Plot the data on natural gas bills. (b) Can...Ch. 14 - (a) Plot the data on air travel delays. (b) Can...Ch. 14 - (a) Plot the data on airplane shipments. (b) Can...Ch. 14 - (a) Plot the data on revolving credit (credit...Ch. 14 - The following seasonal regression was fitted with...Ch. 14 - The following seasonal regression was fitted with...
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