# All of the following are true about time series methods...

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Chapter 12 / Exercise C.7
Business Analytics: Data Analysis & Decision Making
Albright/Winston
Expert Verified
Chapter 15—Forecasting MULTIPLE CHOICE 1. All of the following are true about time series methods except a. They discover a pattern in historical data and project it into the future. b. They involve the use of expert judgment to develop forecasts. c. They assume that the pattern of the past will continue into the future. d. Their forecasts are based solely on past values of the variable or past forecast errors. ANS: B PTS: 1 TOP: Time series patterns
2. Gradual shifting of a time series to relatively higher or lower values over a long period of time is called PTS: 1 TOP: Trend component
3. Seasonal patterns PTS: 1 TOP: Seasonal pattern
4. The focus of smoothing methods is to smooth out PTS: 1 TOP: Moving averages and exponential smoothing
5. Forecast errors a. are the difference in successive values of a time series b. are the differences between actual and forecast values c. should all be nonnegative d. should be summed to judge the goodness of a forecasting model ANS: B PTS: 1 TOP: Forecast accuracy
6. To select a value for for exponential smoothing PTS: 1 TOP: Exponential smoothing
7. Linear trend is calculated as T t = 28.5 + .75 t . The trend projection for period 15 is
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Chapter 12 / Exercise C.7
Business Analytics: Data Analysis & Decision Making
Albright/Winston
Expert Verified
PTS: 1 TOP: Trend projection
8. All of the following are true about qualitative forecasting methods except PTS: 1 TOP: Qualitative forecasting methods
9. The trend pattern is easy to identify by using a. a moving average b. exponential smoothing c. regression analysis d. a weighted moving average ANS: C PTS: 1 TOP: Trend pattern