Q4Sum2015answers(1).pdf

Q4Sum2015answers(1).pdf - Bus 252 Quiz 4 summer 2015 For...

This preview shows 1 out of 2 pages.

Bus 252 Quiz 4 summer 2015 For answers to questions 1 4, see the Excel file titled, Reg Data for HW4 Answer. 1. Given the excel sheet for HW4, create a scatter plot (chart) of the data and discuss what you see, include a linear trend line. 2. Given the excel sheet for HW4, execute a regression. 3. Given the excel sheet for HW4, discuss the relevance (how good is the model) of the regression model overall and for the intercept and the coefficient of the independent variable. R, R^2, adjusted R^2, standard error, F test, significance of F, t Stat, P-value, and confidence interval. 4. Given the excel sheet for HW4, calculate the point estimate and confidence interval prediction for each measure and the associated residual/error. 5. What is MAD (mean absolute deviation) or MAE (mean absolute error)? The average of the absolute value of the errors achieved when subtracting the forecast/prediction of each period from the demand of each period. If the MAD value is multiplied by 1.25, the resulting answer will approximate the SD of the error. Once you have the SD you can find the bounds of a confidence interval. 6. What is MSE and RMSE (mean squared error or root mean squared error)? MSE is the average of the squared errors which is the variance of the errors and RMSE is just the square root of MSE or the SD of the errors. Once you have the SD you can find the bounds of a confidence interval. 7. What is CFE (cumulative sum of forecast errors)? Sum of the errors, will tell you if your model is biased. If the errors were normally distributed, CFE would be Zero, it never is zero. If the error = Demand Forecast, than a negative CFE would mean that the forecast was biased in that the model is over forecasting. If the CFE is positive, than the model under forecasts more often.
Image of page 1

Subscribe to view the full document.

Image of page 2
You've reached the end of this preview.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern