Q: An independent variable in a model is also called: a. explained variable. b. unexplained variable.…
A: Option (c).
Q: The use of quarterly data to develop the forecasting model Yt = a +bYt-1 is an example of which…
A: The forecasting refers to the prediction technique for a certain situation taking into consideration…
Q: Comprehensively state the criteria and process of selecting appropriate models for time series…
A: Time series forecasting is used when making scientific forecasts based on historical time stamped…
Q: What is a qualitative forecasting model, and when is its use appropriate?
A: Forecasting refers to making predictions based on past and present data and analyzing the trends.…
Q: Jan '20 0.68 Feb '20 0.76 Mar '20 1.6 Apr '20 1.47 May '20 0.98 Jun '20 1.18 Jul '20 3.59 Aug '20…
A: 1) Simple Moving Average (SMA): A simple moving average is a statistical tool that simply calculates…
Q: Formulate the demand equations and estimate Qd for P=33 by using the following data: Price…
A: The formula for demand equation: y-y1=m(x-x1) y is the dependent variable which is price x is the…
Q: Short-range forecasts tend to ________ longer-range forecasts. A. deal with more comprehensive…
A: Forecasts for the short term are made using data that has been seen, extrapolated, and how systems…
Q: QUESTION 9 A seasonal index is calculated by dividing the _________. current season by the…
A: Note: We will answer one question as the exact one was not specified. Please resubmit a new question…
Q: temperature. (ii) Predict the electricity consumption of the office when the maximum temperature is…
A: Regression is a measurable technique utilized in money, contributing, and different disciplines that…
Q: True or False ? Justify your answers. A quadratic trend model y = B1 + B2TIME + B3TIME? + &t is…
A: 1 A quadratic trend model y = B 1 + B ₂TIME + B 3 Time 3 + et is considered a linear regression.…
Q: Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled…
A:
Q: You own a restaurant near the beach. Business has been growing each year, but obviously spikes…
A: The regression equation gives a mathematical form to the association or link between two or more…
Q: . IfQ=K!®L² the MP; is a. constant b. diminishing c. increasing d. not enough information to…
A: The production function would result in the maximum output that can be produced given the technology…
Q: What factor(s) determine the magnitude of the LM slope (steep or flat)?
A: The factor that determine the magnitude of the LM curve, i.e. whether it will be steep or flat…
Q: Name two coincident indicators used in forecasting
A: Coincident indicators help in understanding the current economic position prevailing in a particular…
Q: Part C 3. The manager of a certain gasoline station wants to forecast the demand for the unleaded…
A: Exponential smoothed forecast for demand from April to November when α = 0.25 Exponential smoothed…
Q: Bell Greenhouses has estimated its monthly demand for potting soil to be the following: Assume this…
A: Monthly demand for potting soil is given by: N = 400 + 4X where N = number of potting soli bags…
Q: Critically/quantitatively evaluate the following statement (true, false or uncertain): • In a linear…
A: Ordinary least square method is used to regress dependent variable on independent variables. Here…
Q: A local moving company has collected data on the number of moves they have been asked to perform…
A: The equation for the trend line of yearly sales is given: Ft = 16 + 60t
Q: The forecasting staff for the Prizer Corporation has developed a model to predict sales of its…
A: A sales forecasting model is employed to estimate the expected influx of revenue on the basis of…
Q: ed Cordaro is an analytics consultant who has been brought into a large distribution company to…
A: Human resources are a set of people who make up the workforce of an organization, business,…
Q: Mr. John operates a medium size business that sells tires. He buys most of his tires from a company…
A: What is EOQ? Economic order quantity is the ideal quantity any company should order to minimize…
Q: Two coincident indicators used in forecasting
A: A coincident pointer is a metric that shows the present status of financial movement inside a…
Q: A police station had to deploy a police officer for an emergency multiple times in the last four…
A: Forecast for Friday using naive approach = Actual demand of previous period(Thursday) = 12.
Q: Question 4 Consider the following data: Month Bicycles Sold 21.6 2. 22.9 25.5 21.9 23.9 6. 27.5 7…
A: We are going to calculate Mean Absolute Percentage Error using its formula and definition.
Q: EXPLAIN 2 ways of how should the decision maker incorporate forecast error?
A: A forecast error is simply the difference between the actual and forecasted value of any time series…
Q: Silicon Co. has forecasted the Canadian dollar for the most recent period to be $0.73. The realized…
A: Absolute forecast error means the difference between forecasted and actual value of the currency ,…
Q: With respect to a given product, describe the connection that exists between…
A: A product i Phone is said to be in equilibrium if its quantity demanded is equal to quantity…
Q: A firm experienced the demand shown in the following table. Fill in the table by preparing forecasts…
A: Compute 5-year moving average demand forecast using Fy = (Dy-1 + Dy-2 + Dy-3 + Dy-4 + Dy-5) / 5…
Q: If OLS is used in the presence of autocorrelation, which of the following will be likely…
A: Consequences in term of auto-correlation and heteroscedasticity. Hence, the estimates made by…
Q: Historical demand for the product is: Month Demand January 12 February 11 March 15 April 12 May 16…
A: Month Demand Weights Weighted average April 12 0.1 12*0.1 =1.2 May 16 0.3 16*0.3=4.8 June…
Q: Consider an ISLM model given by these equations: Y = C + I + G C = 10 + Ya T = 10 G = 15 I = 5+÷Y –…
A: (a) At equilibrium Y = C + I + G => Y = 10 + (1/2)Yd + 5 + (1/4)y -100i + 15 Note: Yd = Y - T…
Q: Assume the following AR(1) Y, = 0.036 + 0.69Y,-1 + E Suppose you have data for t-1, let's say Y,I =…
A: * SOLUTION :- *(8)
Q: Recessions occur Group of answer choices irregularly. regularly, about every 10 years. regularly,…
A: Answer - Need to find- Recessions occur Evaluating the options- 1.irregularly. 2.regularly,…
Q: On the graph beside, we see the residuals from applying the average forecasting method on 200 daily…
A: Answer - Autocorrelation:- Autocorrelation exsist when there is similarity betwenn the current…
Q: What action should be taken when unacceptable error is found in tracking a forecast?
A: Forecasting is the method of predicting future trends in the economy by analyzing the present and…
Q: True or False? WLS is preferred to OLS when an important variable has been omitted from the model.
A: The given statement is false.
Q: The forecast for week 13 is (Enter your response rounded to the nearest whole number)
A: After finding the regression equation we use the value 13 in the independent variable to forecast…
Q: Which of the following is true about ARIMA models A. ARIMA models cannot be used for seasonal data…
A: ARIMA stands for Auto-Regressive Integrated Moving Average. The lags of the stationary series in…
Q: Qualitative methods of forecasting include:a) sales force composite. b) jury of executive opinion.c)…
A: The methods of sales forecasting include qualitative and quantitative methods. Some of the…
Q: How Forecasts is compared with predicted values? why these both terms are different?
A: A forecast is an estimation that is based on the previous data. A prediction is estimating the…
Q: Consumer expenditure plans is an example of a forecasting method. Which of the general categories…
A: When the government and other national or state officials study and analyze the economy on the basis…
Q: The following is the data of recent refrigerator sales at a local Home Depot store. Month 1 2 3…
A: Weighted moving averages assign a heavier weighting to more current data points since they are more…
Q: Forecasting accuracy cannot be considered as a performance metric (TRUE/ FALSE).
A: Performance metrics is a measurement of behaviour of the organisation it's related activities and…
Q: Water bills are perfectly correlated to precipitation levels Group of answer choices A. True…
A: In an economy, the price of any commodity is determined by various factors like demand, supply, and…
Q: ITEMS 18 to 20 ARE BASED ON THE FOLLOWING INFORMATION: The following information pertains to Emy…
A: Given: The annual demand for Emy manufacturing corporation is = 33,750 units The annual cost to hold…
Identify and briefly describe the two general
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- Savings-Mart (a chain of discount department stores) sells patio and lawn furniture. Sales are seasonal, with higher sales during the spring and summer quarters and lower sales during the fall and winter quarters. The company developed the following quarterly sales forecasting model: Y t=8.25+0.125t2.75D1t+3.50D3t where Y t=predictedsales(million)inquartert 8.25=quarterlysales(million)whent=0 t=timeperiod(quarter)wherethefourthquarterof2002=0,firstquarterof2003=1,secondquarterof2003=2,... D1t={1forfirst-quarterobservations0otherwiseD2t={1forsecond-quarterobservations0otherwiseD3t={1forthird-quarterobservations0otherwise Forecast Savings-Marts sales of patio and lawn furniture for each quarter of 2010.Historical demand for Peeps is as displayed in the table. Month Demand January 11 February 18 March 31 April 39 May 44 June 53 July 67 August 82 September 96 Develop forecasts from June through October using these techniques: Holt's method with alpha=0.2 and beta=0.1. For Holt's model, the level and trend for May are assumed to be 44 and 12. Judge which forecast method is the best based on MAD.Comprehensively state the criteria and process of selecting appropriate models for time series forecasting.
- Two coincident indicators used in forecastingThe use of quarterly data to develop the forecasting model Yt = a +bYt-1 is an example of which forecasting technique?Choose one of the following forecasting methods discussed in this chapter: last-value, averaging, moving-average, or exponential smoothing. Identify the conditions when the method is most appropriate to use and give an example of an application of this method.
- Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual sales are as follows: Month Sales Forecast 1 Forecast 2 1 770 771 769 2 789 785 787 3 794 790 792 4 780 784 798 5 768 770 774 6 772 768 770 7 760 761 759 8 775 771 775 9 786 784 788 10 790 788 788 (a). Compute the MSE and MAD for each forecast. Does either forecast seem superior? Explain. (b). Compute MAPE for each forecast.A researcher has a sample of 6 annual observations {94, 104, 102, 99, 111 and 107} for the CPI in country Z for the period 2015 to 2020, and wants to forecast CPI for the years 2021, 2022 and 2023. The researcher uses 3 different forecasting models: A, B and C. Model A is an AR(1) model with no drift and with an estimated autoregressive coefficient = 0.7. Model B is a MA(1) model with no constant and with an estimated MA coefficient = -0.4 (note the minus !). Model C is a random walk model with no drift. The error terms over the 2015-2020 period were estimated to have the values: {3, -1, 2, 4, -3, 1}. a. Compute the 2021, 2022 and 2023 forecasted values for the consumer price index based on the three models. Show the formulas and the details of your calculations, and explain all the related symbols. b. Suppose that the actual values of the CPI over the 2021, 2022 and 2023 were {108, 114, 105}. Calculate the Root mean square error of the three model forecasts over the 2021-2023…The problem is based on the following data given. Observations of the demand for a certain part stocked at a parts supply depot during the calendar year 2013 were ( as shown ). Determine the one-step-ahead forecasts for the demand for January 2014 using 3‑, 6-, and 12-month moving averages.
- How Forecasts is compared with predicted values? why these both terms are different?Consumer expenditure plans is an example of a forecasting method. Which of the general categories best described this example?Mai sells makeup online and has noticed that demand for her products, glittery lip gloss, has varied wildly over the past few months she has been selling it. She's been doing some online advertising and thinks there might be a relationship between how much she's spending each week on ads and her weekly lip gloss sales, so she's used Excel to create an Associative Forecast: where the intercept is -20 and the slope is 2.5 per $ spent advertising. Use this information to forecast lip gloss sales in week 18, when she will be spending $100 on advertising. Answer: