Math 540 Quiz B

Question 1
2 out of 2 points

If average forecast error is positive, it indicates that the forecast is biased high.
Answer

Selected Answer: False
Correct Answer: False

Question 2
2 out of 2 points

A seasonal effect is one that repeats at fixed intervals of time, typically a year, month, week, or day.
Answer

Selected Answer: True
Correct Answer: True

Question 3
2 out of 2 points

The Delphi method develops a consensus forecast about what will occur in the future.
Answer

Selected Answer: True
Correct Answer: True

Question 4
2 out of 2 points

In regression models based on time-series data, the dependent variable is time or some function of time and the focus is on predicting the future.
Answer

Selected Answer: False
Correct Answer: False

Question 5
2 out of 2 points

Regression methods attempt to develop a mathematical relationship between the item being forecast and factors that cause it to behave the way it does.
Answer

Selected Answer: True
Correct Answer: True

Question 6
2 out of 2 points

Coefficient of determination is the percentage of the variation in the ________ variable that results from the ________ variable.
Answer

Selected Answer: dependent, independent
Correct Answer: dependent, independent

Question 7
0 out of 2 points

Time-series models ________.
Answer

Selected Answer: include independent variables like, demand conditions and the current economy state that help in forecasting
Correct Answer: assume that whatever forces have influenced sales in the recent past will continue into the near future

Question 8
2 out of 2 points

Which of the following possible values of alpha would cause exponential smoothing to respond the most slowly to sudden changes in forecast errors?
Answer