pracTest1

# pracTest1 - (Please print name BIT 2406 Test 1 Fall 2006 Dr...

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(Please print name) BIT 2406 Test 1 Fall 2006 Dr. Ed Clayton Questions 1- 40 – 2 pts. each. Questions 41-45 – 3 pts. each. Match term with definition . 1. Mean Squared Error (MSE) _____ 2. Mean Absolute Percent Error (MAPE) _____ 3. Bias _____ 4. Least Squares _____ 5. Regression Analysis _____ 6. Standard Error of the Estimate _____ 7. Coefficient of Correlation _____ 8. Tracking Signal _____ 9. Time-Series Models _____ 10. Causal Models _____ 11. Qualitative Models _____ 12. Delphi _____ 13. Decision-Making Group _____ 14. Moving Average _____ 15. Weighted Moving Average _____ 16. Exponential Smoothing _____ 17. Smoothing Constant _____ 18. Mean Absolute Deviation (MAD) _____ 19. Scatter Diagrams _____ a. b. A forecasting procedure that uses the least squares approach on one or more independent variables to develop a forecasting model. c. Models that forecast using only historical data. d. A group of experts in a Delphi technique that has the responsibility of making the forecast. e. A forecasting method that is a combination of the last forecast and the last observed value. f. A technique for determining the accuracy of a forecasting model by taking the average of the absolute errors as a percentage of the observed values. g. A measure of the strength of the relationship between two variables. h. A judgmental forecasting technique that uses decision makers, staff personnel, and respondents to determine a forecast. i. A value between 0 and 1 that is used in an exponential smoothing forecast. It is generally in the range from 0.1 to 0.3. j. A procedure used in trend projection and regression analysis to minimize the squared distances between the estimated straight line and the observed values. k. Models that forecast using judgments, experience, and qualitative and subjective data. l. A technique for determining the accuracy of a forecasting model by taking the average of the absolute deviations. m.

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## This note was uploaded on 04/02/2008 for the course BIT 2406 taught by Professor Llclark during the Fall '07 term at Virginia Tech.

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pracTest1 - (Please print name BIT 2406 Test 1 Fall 2006 Dr...

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