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QMB 3200 MIDTERM EXAM ACTUAL EXAM 2 VERSION1
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QMB 3200 MIDTERM EXAM ACTUAL EXAM 2VERSIONS (VERSION A AND B) COMPLETE
ACTUAL EXAM QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT
ANSWERS) /ALREADY GRADED A+
Which of the following statements regarding a time series technique is true? -
ANSWER Time series techniques focus on the historical behavior of some outcome
of interest to predict its future behavior.
Which time series technique predicts a future value by combining the previous
prediction and some portion of the error in the prediction? - ANSWER Simple
exponential smoothing
Which of the following correlation coefficient values represents the strongest positive
correlation between two factors in a data set? - ANSWER r-=0.931
It is NOT possible for a forecast to be both responsive and inaccurate. - ANSWER
False
In a time series, what is a black swan? - ANSWER a particularly high-impact incident
of extreme consequence that is unexpected or considered highly improbable
Calculating a regression equation for a given set of data identifies the specific values
of ____ - ANSWER the slope and intercept
Averaging forecast errors over time results in the performance measure known as
*****? - ANSWER mean error
What is the ME for the forecast errors of 5, 10, 0, and -3? - ANSWER 3
one-time shocks to a time series from a distinctly external influence, such as a
sudden dip in consumer sales after a disruptive event, are called ____ variations -
ANSWER exogenous
Several forecasting methods rely on insights from a group of people, but which
method does NOT have the group discuss their opinions? - ANSWER Delphi Groups
Which of the following forecasting measures calculates the average of the absolute
values of a set of forecast errors? - ANSWER MAD
The alpha value (o) in the exponential smoothing formula is known as the -
ANSWER smoothing constant
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