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

Question

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Answer 1

Textbook Question

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

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

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

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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Answer 2

Textbook Question

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

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

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

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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Answer 3

Textbook Question

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

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

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

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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Answer 4

Textbook Question

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

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

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

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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Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

(a)

Expert Solution

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

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

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.

Answer 8

(a)

Expert Solution

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.

Answer 9

(a)

Expert Solution

Answer 10

(a)

Expert Solution

Answer 11

Expert Solution

Answer 12

To determine

Explain the difference between stocks and flows.

Answer 13

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.

Answer 14

(b)

Expert Solution

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.

Answer 15

(b)

Expert Solution

Answer 16

(b)

Expert Solution

Answer 17

Expert Solution

Answer 18

To determine

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

Answer 19

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.

Answer 20

(c)

Expert Solution

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.

Answer 21

(c)

Expert Solution

Answer 22

(c)

Expert Solution

Answer 23

Expert Solution

Answer 24

To determine

Explain the difference between the additive and multiplicative models.

Answer 25

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.

Answer 26

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

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