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57. Why are long range predictions considered essential to managing a firm? A) To develop plans for possible new plants B) To have raw materials available for future demand C) To develop plans for future financing D) To have enough staff for future needs E) All of the above Answer: E Difficulty: Medium Goal: 1 Statistical Techniques in Business & Economics, Lind/Marchal/Wathen, 13/e19
58. Which one of the following is not a component of a time series? B Difficulty: Medium Goal: 1 59. What is the correct order of events in a typical business cycle? A Difficulty: Medium Goal: 1 60. The crash of the telecommunications industry in 2000 exerted an impact on the economy that could be classified as: B Difficulty: Medium Goal: 1 61. In the linear trend equation which variable represents the average change in the dependent variable for every unit change in time? A) B) C) D) ˆAnswer: a b t YB Difficulty: Medium Goal: 2 62. For a time series beginning with 1988 and extending up to 2007, which year would be coded with a one when using the coded method? B
Test Bank, Chapter 16
63. For an annual time series extending from 1997 through 2007, how many years would be lost in a three year moving average? B Difficulty: Medium Goal: 3 AACSB: AS64. Given the trend equation ˆY= 25 + 0.6t(base year = 2003), what would be the forecast value for 2007? B Difficulty: Medium Goal: 5 65. How can you describe the moving average method? A) Useful in smoothing out a time series B) Used in measuring seasonal fluctuations C) A technique which does not result in an trend line equation D) A method for identifying a trend E) All of the above Answer: E Difficulty: Medium Goal: 3 66. For a five-year moving average, how many values will be lost at the beginning and end of the time series? C
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Forecasting, AACSB, Time series analysis, Business & Economics, Difficulty