Study Questions for Exam 1-ECO 6416

# Study Questions for Exam 1-ECO 6416 - Study Questions for...

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Study Questions for Exam 1: 1.4 Which of the following is an example of time series data? a. job satisfaction of 100 employees at a factory b. the five-year growth rate in sales of 30 food-processing firms c. 1990 revenue for each fast food restaurant in the state of Indiana d. monthly revenue of the McDonald’s in Richmond, Indiana for 15 months e. none of the above 1.5 Which of the following is an example of cross section data? a. 30 successive months of sales in the food-processing industry b. the total assets involved in corporate mergers for each of the past 30 years c. the annual number of patents issued to General Electric from 1947 to 1982 d. first quarter sales of each Japanese car model e. none of the above 2.44 Bivariate data are data gathered on a. one variable for each observation b. two variables for each observation c. at least one variable for each observation d. at least two variables for each observation e. none of the above 4.1 By knowing only the trend line, you know all except which one of the following things about time series data? a. fit around the trend b. steepness of the trend c. location of the trend d. the average rate of increase of the time series data for each time period e. all of the above can be determined from the trend line 4.2 If the trend line for inventories is given by the equation predicted inventory = 50 + 150 Quarter were fit from 20 consecutive quarters (1 through 20), prediction for quarter 21 would be a. forecasting b. extrapolation c. 3200 d. all of the above e. none of the above 4.3 If the trend line for inventories is given by the equation predicted inventory = 50 + 150 Quarter you can predict inventory levels for quarter number 5 to be a. 700 b. 800 c. 900 d. 1000 e. cannot be predicted from the information given 4.4 If the trend line for inventories is given by the equation predicted inventory = 50 + 150 Quarter then inventory levels on average

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a. rise 600 per year b. rise 200 per quarter c. rise 150 per month d. fall 200 per quarter e. none of the above 4.5 If the trend line for inventories is given by the equation predicted inventory = 50 + 150 Quarter were fit from 20 consecutive quarters (1 through 20), prediction for quarter 21 would be a. forecasting b. extrapolation c. 3200 d. all of the above e. none of the above 4.6 The problem with trend line regressions is that a. eventually all trends must end b. there may not be any trend upward or downward c. they can only apply to time series data d. they do not explain why a trend occurs e. all of the above 4.7 Based on the trend line for sales of a fast growing company given by the equation predicted sales = 2500 + 500 Year the fitted value of sales for Year 7 is a. 2500 b. 3500 c. 5000 d. 6000 e. cannot be determined from the information given 4.8 Based on the trend line for sales given by the equation predicted sales = 3000 + 600 Year sales on average a. rises 50 per month b. rises 150 per quarter c. rises 600 per year d. all of the above e. none of the above
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Study Questions for Exam 1-ECO 6416 - Study Questions for...

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