One measure of the accuracy of a forecasting model is the:
a. trend component
b. mean absolute deviation
c. seasonal index
d. smoothing constant
The forecasting method that is appropriate when the time series has no significant trend, cyclical, or seasonal effect is:
a. mean squared error
b. mean average deviation
c. qualitative forecasting methods
d. moving averages
If data for a time series analysis is collected on an annual basis only, which component may be ignored?
a. seasonal
b. cyclical
c. irregular
d. trend
Forecast errors
a. are the differences between actual and forecast values
b. should all be nonnegative
c. should be summed to judge the goodness of a forecasting model
d. are the difference in successive values of a time series
Short-term, unanticipated, and nonrecurring factors in a time series provide the random variability known as:
a. the forecast error
b. the residuals
c. the irregular component
d. uncertainty
A linear trend is calculated as Tt = 28.5 + .75t. The trend projection for period 15 is
a. 28.50
b. 39.75
c. 44.25
d. 11.25
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