Statistical Techniques in Business and Economics
18th Edition
ISBN: 9781260579611
Author: Douglas Lind; William Marchal; Samuel Wathen
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 18, Problem 25CE
To determine
To explain: The type of time series pattern if a time series analysis reports that the seasonal indexes are all equal to
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A consumer interest group is tracking the percentage of household income spent on gasoline over the past 30 years. Which graphical display would be more useful, a histogram or a time-series graph. Why?
a. A histogram because the change in data over time is the most relevant issue.b. A time-series graph because the change in data over time is the most relevant issue. c. A time-series graph because the range of values for the data is the most relevant issue.6. A histogram because the range of values for the data is the most relevant issue.
For the Texas Shipping Company, the monthly percentages of all shipments received on time over the past 12 months are 82, 86, 87, 89, 84, 85, 84, 86, 75, 95,
90, and 92.
a. Construct a time series plot (you can include it in the work file question at the end, not here). Identify what type of pattern, if any, exists in the data?
Compare the three-month moving average forecast with an exponential smoothing forecast for alpha= 0.25 and answer the following:
b. MSE for 3-month moving average method
c. MSE for exponential-smoothing method :
d. Which method should be preferred? Answer "3-month MA" or "Exponential Smoothing":
e. What is the forecast for next month using the preferred method?
It is claimed that Table 6 represents the seasonal factors obtained from a quarterly time series.
Table 6
Quarter
1
2
3
4
Explain why this claim cannot be correct.
Seasonal Factor
-203.4
-81.6
24.1
-260.9
Chapter 18 Solutions
Statistical Techniques in Business and Economics
Ch. 18 - Prob. 1ECh. 18 - Prob. 2ECh. 18 - Prob. 3ECh. 18 - Prob. 4ECh. 18 - Prob. 1SRCh. 18 - Prob. 5ECh. 18 - Prob. 6ECh. 18 - Prob. 7ECh. 18 - Prob. 8ECh. 18 - Prob. 2SR
Ch. 18 - Prob. 9ECh. 18 - Prob. 10ECh. 18 - Prob. 11ECh. 18 - Prob. 12ECh. 18 - Prob. 3SRCh. 18 - Prob. 13ECh. 18 - Prob. 14ECh. 18 - Prob. 15ECh. 18 - Prob. 16ECh. 18 - Prob. 17ECh. 18 - Prob. 18ECh. 18 - Prob. 4SRCh. 18 - Prob. 19ECh. 18 - Prob. 20ECh. 18 - Prob. 21ECh. 18 - Prob. 22ECh. 18 - Prob. 23CECh. 18 - Prob. 24CECh. 18 - Prob. 25CECh. 18 - Prob. 26CECh. 18 - Prob. 27CECh. 18 - Prob. 28CECh. 18 - Prob. 29CECh. 18 - Prob. 30CECh. 18 - Prob. 31CECh. 18 - Prob. 32CECh. 18 - Prob. 33CECh. 18 - Prob. 34CECh. 18 - Prob. 35CECh. 18 - Prob. 1PCh. 18 - Prob. 2PCh. 18 - Prob. 3PCh. 18 - Prob. 1.1PTCh. 18 - Prob. 1.2PTCh. 18 - Prob. 1.3PTCh. 18 - Prob. 1.4PTCh. 18 - Prob. 1.5PTCh. 18 - Prob. 1.6PTCh. 18 - Prob. 1.7PTCh. 18 - Prob. 1.8PTCh. 18 - Prob. 1.9PTCh. 18 - Prob. 1.10PTCh. 18 - Prob. 2.1PTCh. 18 - Prob. 2.2PTCh. 18 - Prob. 2.3PT
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- The component of a time series attached to long term variations is termed as O a. Secular trend O b. Seasonal trend O c. Cyclic variation O d. Random variationarrow_forwardTime series data usually shows a pattern, which is caused by a systematic and unsystematic pattern. What are the causes of systematic patterns in time series data?arrow_forward
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