# Quiz 11: Time Series Forecasting

Statistics

Q 1Q 1

Why might we not be able to build a regression model to predict a dependent variable?
A) We might not know the independent variables.
B) There might not be any data available for the independent variables.
C) The regression model might not fit the data well.
D) All of these are true.

Free

Multiple Choice

D

Q 2Q 2

A model or technique that uses past behavior of a time-series variable to predict the future is referred to as
A) a forecasting model.
B) an extrapolation model.
C) a trend model.
D) all of these.

Free

Multiple Choice

D

Q 3Q 3

A time series which has no significant upward or downward trend is referred to as
A) static.
B) non-moving.
C) stationary.
D) non-stationary.

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Multiple Choice

C

Q 4Q 4

A time series which has a significant upward or downward trend is referred to as
A) static.
B) non-moving.
C) stationary.
D) non-stationary.

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Multiple Choice

Q 5Q 5

Which of the following is the common approach to time-series analysis?
A) Try several techniques and use the best results.
B) Plot the data and count the peaks to determine a value for k.
C) Plot the data and use the TREND() function.
D) Use a stationary model since it is the most robust.

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Multiple Choice

Q 6Q 6

Which of the following is not a quantitative technique for evaluating the accuracy of a time-series modeling technique?
A) Constructing line graphs of the data.
B) The mean absolute deviation.
C) The mean absolute percent error.
D) The root mean square error.

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Multiple Choice

Q 7Q 7

A technique that analyzes past behavior of a time-series variable to predict the future is referred to as
A) a regression model.
B) a seasonal model.
C) a past performance model.
D) an extrapolation model.

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Multiple Choice

Q 8Q 8

The general form of an extrapolation model for time-series analysis is
A)

_{t+1}= f(X_{t}, Y_{1}, Z_{2}, ...) B)_{t}= f(Y_{t}, Y_{t}_{}_{1}, Y_{t}_{}_{2}, ...) C) Y_{t+1}= f(Y_{t}, Y_{t}_{}_{1}, Y_{t}_{}_{2}, ...) D)_{t+1}= f(Y_{t}, Y_{t}_{}_{1}, Y_{t}_{}_{2}, ...)Free

Multiple Choice

Q 9Q 9

Why might a forecaster calculate MSE values on just the most recent data in the time-series data set?
A) The forecaster might be interested in how well the forecasting method performs on the more recent data.
B) Because the most recent data may be a better predictor of future values.
C) Because the resulting forecasting function might fit the older data better that the more recent data.
D) All of these.

Free

Multiple Choice

Q 10Q 10

Exhibit 11.1
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using moving averages.
-Refer to Exhibit 11.1. What is the 4-month moving average forecast for month 5?
A) 71
B) 72.5
C) 74
D) 75

Free

Multiple Choice

Q 11Q 11

Exhibit 11.1
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using moving averages.
-Refer to Exhibit 11.1. What formula should be entered in cell C13 to compute the 4-month moving average forecast for month 11?
A) =AVERAGE(B9:B12)/4
B) =AVERAGE(B7+B10)
C) =AVERAGE(A9:A12)
D) =AVERAGE(B9:B12)

Free

Multiple Choice

Q 12Q 12

Exhibit 11.1
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using moving averages.
-Refer to Exhibit 11.1. What Excel function will compute the mean squared error in cell C18 of the spreadsheet?
A) =SUMXMY2(B7:B14,C7:C14)
B) =SUMXMY2(B3:B14,C3:C14)/COUNT(C3:C14)
C) =SUMXMY2(B7:B14,C7:C14)/COUNT(C7:C14)
D) =SUMPRODUCT(B7:B14,C7:C14)/COUNT(C7:C14)

Free

Multiple Choice

Q 13Q 13

Exhibit 11.1
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using moving averages.
-Refer to Exhibit 11.1. What Excel function will compute the root mean squared error in cell C18 of the spreadsheet?
A) =SUMXMY2(B7:B14,C7:C14)
B) =SQRT(SUMXMY2(B3:B14,C3:C14)/COUNT(C3:C14))
C) =SUMXMY2(B7:B14,C7:C14)/COUNT(C7:C14)
D) =SQRT(SUMPRODUCT(B7:B14,C7:C14)/COUNT(C7:C14))

Free

Multiple Choice

Q 14Q 14

Exhibit 11.1
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using moving averages.
-Refer to Exhibit 11.1. What would be the forecasted values for time periods 13 and 14?
A) 81.00 and 79.50.
B) 78.00 and 78.00.
C) 80.50 and 80.13.
D) 80.50 and 80.00.

Free

Multiple Choice

Q 15Q 15

Exhibit 11.1
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using moving averages.
-Refer to Exhibit 11.1. If predicting the cars sold for time period 14, what formula must be placed in cell B16?
A) =AVERAGE(B12:B15)
B) =AVERAGE(B12:B15)/4
C) =TREND(B12:B15)
D) =B14

Free

Multiple Choice

Q 16Q 16

As the number of periods in the forecast, k, increases
A) the moving average prediction will be smoother.
B) it is harder to get a good forecast.
C) the forecast will respond more quickly to changes in the data.
D) the moving average will increase in value.

Free

Multiple Choice

Q 17Q 17

The determination of the MSE-minimizing value of the w

_{i}is a non-linear optimization problem because A) because absolute values are used. B) the w_{i}are fractional. C) the w_{i}sum to 1. D) MSE is a non-linear objective function.Free

Multiple Choice

Q 18Q 18

Which of the following is true of 2-month moving average forecasting function extrapolation?
A) When forecasting ahead 4 periods, the last period forecast will be based on just forecasted values.
B) The final period forecast,

_{t+4}will equal_{t+3}C) Each forecasted value will equal the mean of the last two actual data values. D) The value_{t+4}should not be used as only a 2-month ahead forecast is valid.Free

Multiple Choice

Q 19Q 19

Exhibit 11.2
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using weighted moving averages.
-Refer to Exhibit 11.2. What is the 2-month weighted moving average forecast for month 3 using the weight in the spreadsheet? Associate weight w

_{1}with sales in time period 2 and w_{2}with sales in time period 1. A) 72.44 B) 75.00 C) 76.59 D) 77.56Free

Multiple Choice

Q 20Q 20

Exhibit 11.2
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using weighted moving averages.
-Refer to Exhibit 11.2. What formula should be entered in cell C6 to compute the 2-month weighted moving average forecast for month 3?
A) =F3*B4+F4*B3
B) =$F$3*B4+$F$4*B3
C) =(B3+B4)/2
D) =SUMPRODUCT($F$3:$F$4,B3:B4)

Free

Multiple Choice

Q 21Q 21

Exhibit 11.2
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using weighted moving averages.
-Refer to Exhibit 11.2. Which cell in the spreadsheet is the objective cell in the Risk Solver Platform (RSP) task pane area?
A) F3
B) F4
C) F5
D) C16

Free

Multiple Choice

Q 22Q 22

Exhibit 11.2
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using weighted moving averages.
-Refer to Exhibit 11.2. What would be the forecasted value for time period 13?
A) 83.024.
B) 80.796.
C) 79.245.
D) 79.908.

Free

Multiple Choice

Q 23Q 23

In an exponential smoothing method, weights are assigned
A) just to the current actual and predicted values.
B) just to the previous data point and its predicted value.
C) to all past data points with weight .
D) to all past data points with more recent data points receiving more weight.

Free

Multiple Choice

Q 24Q 24

Which of the following statements are true regarding the difference between forecasts using exponential smoothing and forecasts using a weighted moving average method?
A) The exponential smoothing forecasts will have a steeper trend line.
B) The weighted moving average forecasts will form a level line of constant value.
C) The exponential smoothing forecasts will form a level line of constant value.
D) The exponential smoothing forecasts will do a better job of capturing the underlying trend in the data.

Free

Multiple Choice

Q 25Q 25

As alpha increases the exponential smoothing model
A) produces sluggish forecasts.
B) reacts quickly to changes in the data.
C) reacts slowly to changes in the data.
D) does not change.

Free

Multiple Choice

Q 26Q 26

Exhibit 11.3
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using exponential smoothing.
-Refer to Exhibit 11.3. What formula should be entered in cell C4 to compute the exponential smoothing forecast for month 2?
A) =C3-$F$3*(B3-C3)
B) =C3+$F$3*(C3-B3)
C) =B3+$F$3*(B3-C3)
D) =C3+$F$3*(B3-C3)

Free

Multiple Choice

Q 27Q 27

Exhibit 11.3
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using exponential smoothing.
-Refer to Exhibit 11.3. What is the exponential smoothing forecast for month 2?
A) 69.75 forecast < 70.25
B) 73.00 forecast < 73.50
C) 74.75 forecast < 75.25
D) 79.75 forecast < 81.25

Free

Multiple Choice

Q 28Q 28

Exhibit 11.3
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using exponential smoothing.
-Refer to Exhibit 11.3. What is the exponential smoothing forecast for month 13?
A) 79.20 forecast < 79.30
B) 79.60 forecast < 79.70
C) 80.10 forecast < 80.20
D) 81.95 forecast < 82.05

Free

Multiple Choice

Q 29Q 29

Exhibit 11.3
The following questions use the data below.
Honest Al's Used Cars wants to predict how many cars are sold each month. He has collected data for 12 months. He needs your help in analyzing this data using exponential smoothing.
-Refer to Exhibit 11.3. Assume the forecasted value for month 13 is 79.64. What is the forecasted value for month 16?
A) 85.54.
B) 83.64.
C) 79.64.
D) 82.00.

Free

Multiple Choice

Q 30Q 30

Which of the following describes an additive seasonal effect in times series data?
A) An occasional pattern of equal magnitude.
B) An occasional pattern of unequal magnitude.
C) A regular, repeating pattern of equal magnitude.
D) A regular, repeating pattern of increasing magnitude.

Free

Multiple Choice

Q 31Q 31

Which of the following describes a multiplicative seasonal effect in times series data?
A) An occasional pattern of equal magnitude.
B) An occasional pattern of unequal magnitude.
C) A regular, repeating pattern of equal magnitude.
D) A regular, repeating pattern of increasing magnitude.

Free

Multiple Choice

Q 32Q 32

Exhibit 11.4
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using the additive seasonal method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.4. What formula should be entered in cell E3 to compute the base level when using the additive seasonal effects method?
A) =AVERAGE($E$3:$E$6)
B) =AVERAGE(E3, E7, E11)
C) =AVERAGE($D$3:$D$6)
D) =AVERAGE(D3, D7, D11)

Free

Multiple Choice

Q 33Q 33

Exhibit 11.4
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using the additive seasonal method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.4. What formula should be entered in cell E7 to compute the remaining expected levels?
A) =$J$3*(D7-D3) + (1-$J$3)*E6
B) =$J$3*(D7-D6) + (1-$J$3)*E6
C) =$J$4*(D7-D3) + (1-$J$4)*E6
D) =$J$4*(D7-D6) + (1-$J$4)*E6

Free

Multiple Choice

Q 34Q 34

Exhibit 11.4
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using the additive seasonal method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.4. What formula should be entered in cell F7 to compute the seasonal factor using the additive seasonal effects model?
A) =$J$3*D4+(1-$J$3)*(E3+F3)
B) =$J$4*(D7-E7)+(1-$J$4)*F3
C) =$J$4*(E7-E6)+(1-$J$4)*E6
D) =$J$3*G3+(1-$J$3)*(D3+G3)

Free

Multiple Choice

Q 35Q 35

Exhibit 11.4
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using the additive seasonal method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.4. What formula should be entered in cell G12 to compute the forecast for time period 10?
A) =E10+F7
B) =E12+F12
C) =E12+F8
D) =E11+F8

Free

Multiple Choice

Q 36Q 36

Exhibit 11.4
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using the additive seasonal method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.4. What are predicted sales for time period 13 using the data in the spreadsheet?
A) 915 predicted sales < 916
B) 916 predicted sales < 917
C) 991 predicted sales < 992
D) 1045 predicted sales < 1046

Free

Multiple Choice

Q 37Q 37

Exhibit 11.5
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the multiplicative seasonal effects model.
-Refer to Exhibit 11.5. What formula should be entered in cell E3 to compute the base level when using the multiplicative seasonal effects method?
A) =AVERAGE($E$3:$E$6)
B) =AVERAGE(E3, E7, E11)
C) =AVERAGE($D$3:$D$6)
D) =AVERAGE(D3, D7, D11)

Free

Multiple Choice

Q 38Q 38

Exhibit 11.5
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the multiplicative seasonal effects model.
-Refer to Exhibit 11.5. What formula should be entered in cell E7 to compute the remaining expected levels?
A) =$J$3*(D7/F3) + (1-$J$3)*E6
B) =$J$3*(D7/D6) + (1-$J$3)*E6
C) =$J$4*(D7/D3) + (1-$J$4)*E6
D) =$J$4*(D7/D6) + (1-$J$4)*E6

Free

Multiple Choice

Q 39Q 39

Exhibit 11.5
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the multiplicative seasonal effects model.
-Refer to Exhibit 11.5. What formula should be entered in cell F7 to compute the seasonal factor using the multiplicative seasonal effects model?
A) =$J$3*D4+(1-$J$3)*(E3+F3)
B) =$J$4*(D7/E7)+(1-$J$4)*F3
C) =$J$4*(E7/E6)+(1-$J$4)*E6
D) =$J$3*G3+(1-$J$3)*(D3+G3)

Free

Multiple Choice

Q 40Q 40

Exhibit 11.5
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the multiplicative seasonal effects model.
-Refer to Exhibit 11.5. What formula should be entered in cell G13 to compute the forecast for time period 11?
A) =E13+F13
B) =E12+F13
C) =E12+F8
D) =E12+F9

Free

Multiple Choice

Q 41Q 41

Exhibit 11.5
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the multiplicative seasonal effects model.
-Refer to Exhibit 11.5. What are predicted sales for time period 13 using the data in the spreadsheet?
A) 1259 predicted sales < 1260
B) 1938 predicted sales < 1939
C) 2090 predicted sales < 2091
D) 2187 predicted sales < 2188

Free

Multiple Choice

Q 42Q 42

Exhibit 11.6
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the double moving average model with k = 4.
-Refer to Exhibit 11.6. What formula should be entered in cell E6 (and copied to E7:E14) to compute the first average when using the double moving average method with k = 4?
A) =Average($E$3:$E$6)
B) =Average($D$3:$D$6)
C) =Average(D3:D6)
D) =Average(D5:D6)

Free

Multiple Choice

Q 43Q 43

Exhibit 11.6
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the double moving average model with k = 4.
-Refer to Exhibit 11.6. What formula should be entered in cell F9 to compute the second average when using the double moving average method with k = 4?
A) =Average($E$3:$E$9)
B) =Average($D$3:$D$9)
C) =Average(D3:D9)
D) =Average(D6:D9)

Free

Multiple Choice

Q 44Q 44

Exhibit 11.6
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the double moving average model with k = 4.
-Refer to Exhibit 11.6. What formula should be entered in cell H9 to compute the trend using the double moving average model with k = 4?
A) =2*(AVERAGE(E9,F9))/4
B) =2*(E9-F9)/(4-1)
C) =2*(E9-F9)/(4*2)
D) =2*(D9-F9)/(4-1)

Free

Multiple Choice

Q 45Q 45

Exhibit 11.6
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the double moving average model with k = 4.
-Refer to Exhibit 11.6. What formula should be entered in cell I16 to compute the forecast for time period 14?
A) =I15+2*$H$14
B) =G14+B16*H14
C) =G14+3*H14
D) =G12+H12

Free

Multiple Choice

Q 46Q 46

Exhibit 11.6
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the double moving average model with k = 4.
-Refer to Exhibit 11.6. What are predicted sales for time period 16 using the data in the spreadsheet?
A) 1964 predicted sales < 1965
B) 2147 predicted sales < 2148
C) 2330 predicted sales < 2331
D) 2513 predicted sales < 2513

Free

Multiple Choice

Q 47Q 47

Exhibit 11.7
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using Holt's method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.7. What formula should be entered in cell E4 to compute the base level when using Holt's method?
A) =$J$3*D4+(1-$J$3)*(E3+F3)
B) =$J$4*D4+(1-$J$4)*(E3+F3)
C) =$J$3*G4+(1-$J$3)*(E3+F3)
D) =$J$4*(E4-E3)+(1-$J$4)*F3

Free

Multiple Choice

Q 48Q 48

Exhibit 11.7
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using Holt's method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.7. What formula should be entered in cell F4 to compute the trend when using Holt's method?
A) =$J$3*D4+(1-$J$3)*(E3+F3)
B) =$J$4*(E4-E3)+(1-$J$4)*F3
C) =$J$4*(E4-E3)+(1-$J$4)*G3
D) =$J$4*G3+(1-$J$4)*(D3+G3)

Free

Multiple Choice

Q 49Q 49

Exhibit 11.7
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using Holt's method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.7. What are predicted sales for time period 2 using the data in the spreadsheet?
A) 208.5 predicted sales < 209.5
B) 233.5 predicted sales < 234.5
C) 283.5 predicted sales < 284.5
D) 300.5 predicted sales < 301.5

Free

Multiple Choice

Q 50Q 50

Exhibit 11.7
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using Holt's method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.7. What are predicted sales for time period 13 using the data in the spreadsheet?
A) 908 predicted sales < 909
B) 1026 predicted sales < 1027
C) 1144 predicted sales < 1146
D) 1160 predicted sales < 1161

Free

Multiple Choice

Q 51Q 51

Exhibit 11.8
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using Winter's method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.8. What formula should be entered in cell G3 to compute the seasonal factor for year 1 Quarter 1?
A) =D3/AVERAGE($D$3:$D$6)
B) =D3/AVERAGE($D$3:$D$14)
C) =D3/SUM($D$3:$D$6)
D) =D3/COUNTIF($D$3:$D$6)

Free

Multiple Choice

Q 52Q 52

Exhibit 11.8
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using Winter's method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.8. What formula should be entered in cell E7 to compute the base level value for year 2 Quarter 1?
A) =$D$17+(1-$D$17)*(E6+F6)
B) =$D$17*D7/G3+(1-$D$17)*(E6+F6)
C) =$D$17*D7/G3+(1-$D$17)
D) =$D$17*D7/G3+($D$17)*(E6+F6)

Free

Multiple Choice

Q 53Q 53

Exhibit 11.8
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using Winter's method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.8. What formula should be entered in cell F7 to compute the Trend value for year 2 Quarter 1?
A) =$D$18*(E6-E7)+(1-$D$18)*F6
B) =$D$18*(E7-E6)+$D$18*F6
C) =$D$18*(E7-E6)+(1-$D$18)*F6
D) =$D$18*(E7-E6)*(1-$D$18)

Free

Multiple Choice

Q 54Q 54

Exhibit 11.8
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using Winter's method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.8. What formula should be entered in cell H7 to compute the Predicted Sales value for year 2 Quarter 1?
A) =SUM(E6:F6)*G3
B) =SUM(E6:F6)+G3
C) =SUM(E6:F6)
D) =SUM(E6:G3)

Free

Multiple Choice

Q 55Q 55

Exhibit 11.8
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using Winter's method. The store has collected 12 quarters of data and needs your help to analyze the data.
-Refer to Exhibit 11.8. What are predicted sales for the first quarter of year 4?
A) 795 predicted sales < 800
B) 860 predicted sales < 865
C) 910 predicted sales < 915
D) 1280 predicted sales < 1285

Free

Multiple Choice

Q 56Q 56

How many indicator variables are required if there are p seasons in a time series and you are forecasting with a seasonal regression model?
A) p 1
B) p
C) p + 1
D) p + 2

Free

Multiple Choice

Q 57Q 57

Exhibit 11.9
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a linear trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.9. Which column in the spreadsheet represents the independent variable for a regression model?
A) A
B) B
C) C
D) D

Free

Multiple Choice

Q 58Q 58

Exhibit 11.9
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a linear trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.9. What is the Input Y Range in the Regression command settings dialog box?
A) B3:B14
B) C3:C14
C) D3:D14
D) B3:D14

Free

Multiple Choice

Q 59Q 59

Exhibit 11.9
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a linear trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.9. What is the Input X Range in the Regression command settings dialog box?
A) B3:B14
B) C3:C14
C) D3:D14
D) B3:D14

Free

Multiple Choice

Q 60Q 60

Exhibit 11.9
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a linear trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.9. What formula should be entered in cell E3 to compute the linear trend for year 1 Quarter 1?
A) = 114.1364 + 69.7902 * 3
B) = 114.1364 + 69.7902 * 1
C) = 114.1364 + 69.7902 * 1991
D) = 114.1364 + 69.7902 * 284

Free

Multiple Choice

Q 61Q 61

Exhibit 11.9
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a linear trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.9. What are predicted sales for the fourth quarter of year 4?
A) 1020 predicted sales < 1025
B) 1090 predicted sales < 1095
C) 1160 predicted sales < 1165
D) 1230 predicted sales < 1235

Free

Multiple Choice

Q 62Q 62

Exhibit 11.10
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a quadratic trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.10. How is a quadratic term added to the problem if we want to develop a quadratic trend model?
A) Add a column containing Time

^{2}. B) Add a column containing Actual Sales^{2}. C) Increase the Input X Range in the Regression command settings dialog box. D) Square the coefficient for Time in the regression model.Free

Multiple Choice

Q 63Q 63

Exhibit 11.10
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a quadratic trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.10. What is the Input Y Range in the Regression command settings dialog box?
A) B3:B14
B) C3:C14
C) D3:D14
D) E3:E14

Free

Multiple Choice

Q 64Q 64

Exhibit 11.10
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a quadratic trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.10. What is the Input X Range in the Regression command settings dialog box?
A) B3:B14
B) C3:C14
C) C3:D14
D) C3:E14

Free

Multiple Choice

Q 65Q 65

Exhibit 11.10
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a quadratic trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.10. What formula should be entered in cell F3 to compute the quadratic trend for year 1 Quarter 1?
A) = 263.4545 * C3 + 5.985514 * D3 + 4.922577
B) = 263.4545 + 5.985514 * D3 + 4.922577 * C3
C) = 263.4545 + 5.985514 * C2 + 4.922577 * D2
D) = 263.4545 + 5.985514 * C3 + 4.922577 * D3

Free

Multiple Choice

Q 66Q 66

Exhibit 11.10
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a quadratic trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.10. What are predicted sales for the fourth quarter of year 4?
A) 1170 predicted sales < 1175
B) 1310 predicted sales < 1315
C) 1460 predicted sales < 1465
D) 1615 predicted sales < 1620

Free

Multiple Choice

Q 67Q 67

Exhibit 11.10
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a quadratic trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.10. What Excel command can be used in cells F4:F14 in lieu of a formula based on the regression statistics?
A) =TREND($E$3:$E$14,$C$3:$C$14,C4)
B) =TREND($E$3:$E$14,$C$3:$D$14,C4:D4)
C) =TREND($E$3:$E$14,$C$3:$D$14,D4)
D) =TREND($E$3:$E$14,$B$3:$D$14,B4:D4)

Free

Multiple Choice

Q 68Q 68

Seasonality in a time series is indicated by
A) regular, repeating patterns in the data around a trend line.
B) regular patterns in the data around a trend line.
C) irregular patterns in the data around a trend line.
D) random patterns in the data around a trend line.

Free

Multiple Choice

Q 69Q 69

Exhibit 11.11
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using seasonal indices. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.11. What formula should be entered in cell F3 to compute the quadratic trend for year 1 Quarter 1?
A) = 263.4545 * C3 + 5.985514 * D3 + 4.922577
B) = 263.4545 + 5.985514 * D3 + 4.922577 * C3
C) = 263.4545 + 5.985514 * C2 + 4.922577 * D2
D) = 263.4545 + 5.985514 * C3 + 4.922577 * D3

Free

Multiple Choice

Q 70Q 70

Exhibit 11.11
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using seasonal indices. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.11. What formula should be entered in cell G3 to compute the "Actual as a % of Trend" value for year 1 Quarter 1?
A) =E3/H3
B) =F3/H3
C) =F3/E3
D) =E3/F3

Free

Multiple Choice

Q 71Q 71

Exhibit 11.11
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using seasonal indices. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.11. What formula should be entered in cell C18 to compute the Seasonal Index value for quarter 1?
A) =SUM($B$3:$B$14)/COUNTIF($B$3:$B$14,B18)
B) =SUMIF($B$3:$B$14,B18,$G$3:$G$14)/COUNTIF($B$3:$B$14,B18)
C) =SUMIF($B$3:$B$14,$G$3:$G$14)/COUNT($B$3:$B$14,B18)
D) =SUMIF($B$3:$B$14,B18)/COUNTIF($B$3:$B$14,B18)

Free

Multiple Choice

Q 72Q 72

Exhibit 11.11
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using seasonal indices. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.11. What formula should be entered in cell H3 to compute the Seasonal Forecast value for year 1 Quarter 1?
A) =F3*VLOOKUP(B3,$B$18:$C$21,2)
B) =F3*HLOOKUP(B3,$B$18:$B$21,2)
C) =F3*VLOOKUP(B3,$B$18:$B$21,2)
D) =F3*VLOOKUP(B3,$C$18:$C$21,2)

Free

Multiple Choice

Q 73Q 73

Exhibit 11.11
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using seasonal indices. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
-Refer to Exhibit 11.11. What are predicted sales for the first quarter of year 4?
A) 755 predicted sales < 780
B) 1255 predicted sales < 1260
C) 1275 predicted sales < 1280
D) 1405 predicted sales < 1410

Free

Multiple Choice

Q 74Q 74

Exhibit 11.12
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a seasonal regression model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is provided in the following table.
-Refer to Exhibit 11.12. What formula should be entered in cell E3 to compute the value for the indicator variable for year 1 Quarter 1?
A) =IF($B$3<>$E$2,1,0)
B) =IF($B3=E$2,1)
C) =IF($B$3=$E$2,0,1)
D) =IF($B3=E$2,1,0)

Free

Multiple Choice

Q 75Q 75

Exhibit 11.12
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a seasonal regression model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is provided in the following table.
-Refer to Exhibit 11.12. What formula should be entered in cell I3 to compute the Seasonal Value for year 1 Quarter 1?
A) =388.88+10.052*C3+4.248*D3+79.917*E3+296.008*F3+84.924*G3
B) =10.052*C3+4.248*D3-79.917*E3-296.008*F3-84.924*G3
C) =388.88+10.052*C3+4.248*D3-79.917*E3-296.008*F3-84.924*G3
D) =I3+10.052*C3+4.248*D3-79.917*E3-296.008*F3-84.924*G3

Free

Multiple Choice

Q 76Q 76

Exhibit 11.12
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a seasonal regression model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is provided in the following table.
-Refer to Exhibit 11.12. What is the Input Y Range in the Regression command settings dialog box?
A) $C$3:$C$14
B) $H$3:$H$14
C) $C$3:$G$14
D) $H$3:$I$14

Free

Multiple Choice

Q 77Q 77

Exhibit 11.12
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a seasonal regression model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is provided in the following table.
-Refer to Exhibit 11.12. What is the Input X Range in the Regression command settings dialog box?
A) $C$3:$C$14
B) $H$3:$H$14
C) $C$3:$G$14
D) $H$3:$I$14

Free

Multiple Choice

Q 78Q 78

Exhibit 11.12
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a seasonal regression model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is provided in the following table.
-Refer to Exhibit 11.12. What Excel command can be used in cells F4:F14 in lieu of a formula based on the regression statistics?
A) =TREND($H$3:$H$14,$C$3:$G$14, C3:G3)
B) =TREND($H$3:$H$14,$B$3:$G$14, B3:G3)
C) =TREND($H$3:$H$14,$A$3:$G$14, A3:G3)
D) =TREND($H$3:$H$14,$C$3:$D$14, C3:D3)

Free

Multiple Choice

Q 79Q 79

Exhibit 11.12
The following questions use the data below.
Joe's Sporting Goods wants to forecast quarterly sales figures using a seasonal regression model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is provided in the following table.
-Refer to Exhibit 11.12. What are predicted sales for the first quarter of year 4?
A) 1155 predicted sales < 1160
B) 1065 predicted sales < 1070
C) 1410 predicted sales < 1415
D) 1635 predicted sales < 1640

Free

Multiple Choice

Q 80Q 80

Exhibit 11.13
The following questions use the data below.
The owner of Tim's Toys wants to predict monthly sales. He has collected data for 12 months. He needs your help in analyzing this data using moving averages.
-Refer to Exhibit 11.13. What formulas should go in cells C3:C16 of the spreadsheet if Bill uses a 4 month moving average forecasting model?

Free

Essay

Q 81Q 81

Exhibit 11.13
The following questions use the data below.
The owner of Tim's Toys wants to predict monthly sales. He has collected data for 12 months. He needs your help in analyzing this data using moving averages.
-Refer to Exhibit 11.13. What is the forecast for time periods 13-15?

Free

Essay

Q 82Q 82

Exhibit 11.13
The following questions use the data below.
The owner of Tim's Toys wants to predict monthly sales. He has collected data for 12 months. He needs your help in analyzing this data using moving averages.
-Refer to Exhibit 11.13. What formulas go into cells B7:B9 of the following partial spreadsheet where data for periods 9-12 represent actual data?

Free

Essay

Q 83Q 83

Exhibit 11.14
The following questions use the data below.
The owner of Tim's Toys wants to predict monthly sales. He has collected data for 12 months. He needs help analyzing the data using a 2-month moving average.
-Refer to Exhibit 11.14. What formulas should go into cells B15:B18 and cells C15:C18 of the spreadsheet if a 2-month moving average forecasting model is used?

Free

Essay

Q 84Q 84

Exhibit 11.14
The following questions use the data below.
The owner of Tim's Toys wants to predict monthly sales. He has collected data for 12 months. He needs help analyzing the data using a 2-month moving average.
-Refer to Exhibit 11.14. What is the forecast for time periods 13-15?

Free

Essay

Q 85Q 85

Exhibit 11.15
The following questions use the data below.
The owner of Tim's Toys wants to predict monthly sales. He has collected data for 12 months. He needs your help in analyzing this data using weighted moving averages.
-Refer to Exhibit 11.15. What formulas should go in cells C5:C16 of the spreadsheet if Bill uses a 2 month weighted moving average forecasting model?

Free

Essay

Q 86Q 86

Exhibit 11.15
The following questions use the data below.
The owner of Tim's Toys wants to predict monthly sales. He has collected data for 12 months. He needs your help in analyzing this data using weighted moving averages.
-Refer to Exhibit 11.15. What is the forecast for time period 13-15?

Free

Essay

Q 87Q 87

Exhibit 11.16
The following questions use the data below.
The owner of Tim's Toys wants to predict monthly sales. He has collected data for 12 months. He needs your help in analyzing this data using exponential smoothing.
-Refer to Exhibit 11.16. What formulas should go in cells C3:C16 of the spreadsheet if Bill uses an exponential smoothing forecasting model?

Free

Essay

Q 88Q 88

Exhibit 11.16
The following questions use the data below.
The owner of Tim's Toys wants to predict monthly sales. He has collected data for 12 months. He needs your help in analyzing this data using exponential smoothing.
-Refer to Exhibit 11.16. What is the forecast for time period 13?

Free

Essay

Q 89Q 89

Exhibit 11.17
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the additive seasonal method.
-Refer to Exhibit 11.17. What formulas should go in cells E3:G16 of the spreadsheet if the additive seasonal method is used to forecast sales?

Free

Essay

Q 90Q 90

Exhibit 11.17
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the additive seasonal method.
-Refer to Exhibit 11.17. What is the forecast for time period 13?

Free

Essay

Q 91Q 91

Exhibit 11.18
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the multiplicative seasonal method.
-Refer to Exhibit 11.18. What formulas should go in cells E3:G16 of the spreadsheet if the multiplicative seasonal method is used to forecast sales?

Free

Essay

Q 92Q 92

Exhibit 11.18
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the multiplicative seasonal method.
-Refer to Exhibit 11.18. What is the forecast for time period 13?

Free

Essay

Q 93Q 93

Exhibit 11.19
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the double moving average method.
-Refer to Exhibit 11.19. What formulas should go in cells E6:G14 of the spreadsheet if the double moving average method is used to forecast sales?

Free

Essay

Q 94Q 94

Exhibit 11.19
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using the double moving average method.
-Refer to Exhibit 11.19. What are the forecasts for time periods 13-16?

Free

Essay

Q 95Q 95

Exhibit 11.20
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using Holt's method.
-Refer to Exhibit 11.20. What formulas should go in cells E3:G16 of the spreadsheet if Holt's method is used to forecast sales?

Free

Essay

Q 96Q 96

Exhibit 11.20
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using Holt's method.
-Refer to Exhibit 11.20. What is the forecast for time period 13?

Free

Essay

Q 97Q 97

Exhibit 11.20
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data using Holt's method.
-Refer to Exhibit 11.20. The store wishes to use Solver to find the optimal values for cell E3. Provide the following Risk Solver Platform (RSP) settings.
Objective Cell:
Variables Cells:
Constraints Cells:

Free

Essay

Q 98Q 98

Exhibit 11.21
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data. He wants to use Winter's method to forecast sales.
-Refer to Exhibit 11.21. What formulas should go in cells E3:H16?

Free

Essay

Q 99Q 99

Exhibit 11.21
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data. He wants to use Winter's method to forecast sales.
-Refer to Exhibit 11.21. What is the forecast for time period 13?

Free

Essay

Q 100Q 100

Exhibit 11.21
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data. He wants to use Winter's method to forecast sales.
-Refer to Exhibit 11.21. The store wishes to use Solver to find the optimal values for cell E6. Provide the following Risk Solver Platform (RSP) settings.
Objective Cell:
Variables Cells:
Constraints Cells:

Free

Essay

Q 101Q 101

Exhibit 11.22
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data. He wants to use regression and a linear trend model.
-Refer to Exhibit 11.22. Based on the regression output, what formulas should go in cells E3:E14?

Free

Essay

Q 102Q 102

Exhibit 11.22
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data. He wants to use regression and a linear trend model.
-Refer to Exhibit 11.22. What is the forecast for time period 13?

Free

Essay

Q 103Q 103

Exhibit 11.22
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data. He wants to use regression and a linear trend model.
-Refer to Exhibit 11.22. Interpret the R

^{2}value for your model.Free

Essay

Q 104Q 104

Exhibit 11.23
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data. He wants to use a quadratic trend model to forecast sales.
-Refer to Exhibit 11.23. Based on the regression output, what formulas should go in cells D3:F14?

Free

Essay

Q 105Q 105

Exhibit 11.23
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data. He wants to use a quadratic trend model to forecast sales.
-Refer to Exhibit 11.23. What is the forecast for time period 13?

Free

Essay

Q 106Q 106

Exhibit 11.24
The following questions use the data below.
A store wants to predict quarterly sales. The owners have has collected 3 years of sales data and wants your help in analyzing the data. They want to use a quadratic trend model with seasonality to forecast sales.
-Refer to Exhibit 11.24. Based on the regression output, what formulas should go in cells D3:H21?

Free

Essay

Q 107Q 107

Exhibit 11.24
The following questions use the data below.
A store wants to predict quarterly sales. The owners have has collected 3 years of sales data and wants your help in analyzing the data. They want to use a quadratic trend model with seasonality to forecast sales.
-Refer to Exhibit 11.24. What is the forecast for time period 13?

Free

Essay

Q 108Q 108

Exhibit 11.25
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data. He wants to use a seasonal regression model to forecast sales.
-Refer to Exhibit 11.25. Based on the regression output what formulas should go in cells D3:I14?

Free

Essay

Q 109Q 109

Exhibit 11.25
The following questions use the data below.
A store wants to predict quarterly sales. The owner has collected 3 years of sales data and wants your help in analyzing the data. He wants to use a seasonal regression model to forecast sales.
-Refer to Exhibit 11.25. What is the forecast for time period 13?

Free

Essay

Q 110Q 110

Project 11.1 Developing and Assessing Forecasts at Dempsi Industries
Management at Dempsi Industries is unsure about how to calculate demand for the next four weeks. They have collected demand data for the last year and have presented you with the data. They have asked you for a reasonable level of demand for the next four weeks. You have agreed to provide management a report describing your analysis.
Conduct an analysis of the data provided. Based on the sample data and your initial analyses, evaluate the applicability of the forecasting techniques covered in the chapter. For each technique, provide a brief description of the technique and an assessment of the appropriateness of that technique to the sample data. Provide a table summarizing the forecast error evaluations for each technique examined. Recommend a technique to use to make the requisite predictions and provide a prediction of demand for the next four weeks based on this recommended model.

Free

Not Answered

There is no answer for this question

Q 111Q 111

Project 11.2 Predicting Bowling Games
Dave Cummins runs a local bowling alley. In the face of increasing competition from other local establishments, Dave has decided he must upgrade his facilities to accommodate a younger crowd. He has examined various "cosmic bowling" upgrades for his facility and has finally decided on a package. Dave has approached a local bank for financing assistance. The bank is conservative in its lending practices. As a result the loan manager would like more insight into the potential earnings of the bowling alley, with and without the upgrades. You bowl in leagues in Dave's bowling alley. You enjoy the establishment and Dave is a friend. Thus, you have offered your services to help Dave provide a reasonable projection of establishment earnings based on bowling games. Dave has provided you the following information on lines of bowling over the past five years.
Information from the cosmic bowling upgrade manufacturer suggests a 3-5% increase in bowling lines every year for the first 4 years after the installation of their product. Based on Dave's data develop an appropriate forecasting model. Provide Dave forecasts for the next year both with and without the cosmic bowling upgrade.

Free

Essay