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ECO550 Midterm P2 - Question 1 4 out of 4 points The type...

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Question 1 4 out of 4 points The type of economic indicator that can best be used for business forecasting is the: Selected Answer: leading indicator Correct Answer: leading indicator Question 2 4 out of 4 points An example of a time series data set is one for which the: Selected Answer: data would be collected for a given firm for several consecutive periods (e.g., months). Correct Answer: data would be collected for a given firm for several consecutive periods (e.g., months). Question 3 4 out of 4 points Smoothing techniques are a form of ____ techniques which assume that there is an underlying pattern to be found in the historical values of a variable that is being forecast. Selected Answer: time-series forecasting Correct Answer: time-series forecasting
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Question 4 4 out of 4 points The variation in an economic time-series which is caused by major expansions or contractions usually of greater than a year in duration is known as: Selected Answer: cyclical variation Correct Answer: cyclical variation Question 5 4 out of 4 points Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry? Selected Answer: leading economic indicators. Correct Answer: leading economic indicators. Question 6 4 out of 4 points Time-series forecasting models: Selected Answer: are based solely on historical observations of the values of the variable being forecasted Correct Answer: are based solely on historical observations of the values of the variable being
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forecasted Question 7 4 out of 4 points If the British pound (₤) appreciates by 10% against the dollar: Selected Answer:
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