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Multiple Choice

26.A time series with forecast values and error terms is presented in the following table.  The mean error (ME) for this forecast is ___________.

 Month Actual Forecast Error July 5 Aug 11 5 6.00 Sept 13 6.8 6.20 Oct 6 8.66 -2.66 Nov 5 7.862 -2.86

a) 1.67

b) 1.34

c) 6.68

d) 3.67

e) 2.87

27.A time series with forecast values and error terms is presented in the following table.  The mean absolute deviation (MAD) for this forecast is ___________.

 Month Actual Forecast Error July 5 Aug 11 5 6.00 Sept 13 6.8 6.20 Oct 6 8.66 -2.66 Nov 5 7.862 -2.86

a) 3.54

b) 7.41

c) 4.43

d) 17.72

e) 4.34

28.A time series with forecast values and error terms is presented in the following table.  The mean squared error (MSE) for this forecast is ___________.

 Month Actual Forecast Error July 5 Aug 11 5 6.00 Sept 13 6.8 6.20 Oct 6 8.66 -2.66 Nov 5 7.862 -2.86

a) 13.33

b) 17.94

c) 89.71

d) 22.43

e) 32.34

29.A time series analysis was performed to determine the number of new online customers that joined the ‘Jelly of the Month Club’.  The actual number of new customers, the forecast values and error terms is presented in the following table.  The mean error (ME) for this forecast is ___________.

 Month Actual Forecast Error July 4 Aug 6 5 -1 Sept 3 6 3 Oct 9 8 -1 Nov 8 9 1

a) -0.50

b)  0.50

c)  1.50

d)  7.00

e) 3.00

30.A time series analysis was performed to determine the number of new online customers that joined the ‘Jelly of the Month Club’.  The actual number of new customers, the forecast values and error terms is presented in the following table. The mean absolute deviation (MAD) for this forecast is ___________.

 Month Actual Forecast Error July 4 Aug 6 5 -1 Sept 3 6 3 Oct 9 8 -1 Nov 8 9 1

a) -0.50

b)  0.50

c)  1.50

d)  7.00

e) 3.00

31.A time series analysis was performed to determine the number of new online customers that joined the ‘Jelly of the Month Club’.  The actual number of new customers, the forecast values and error terms is presented in the following table. The mean squared error (MSE) for this forecast is ___________.

 Month Actual Forecast Error July 4 Aug 6 5 -1 Sept 3 6 3 Oct 9 8 -1 Nov 8 9 1

a) -0.50

b)  0.50

c)  1.50

d)  7.00

e) 3.00

32.               In exponential smoothing models, the value of the smoothing constant may be any number between ___________.

a) -1 and 1

b) -5 and 5

c) 0 and 1

d) 0 and 10

e) 0 and 100

33.Use of a smoothing constant value greater than 0.5 in an exponential smoothing model gives more weight to ___________.

a) the actual value for the current period

b) the actual value for the previous period

c) the forecast for the current period

d) the forecast for the previous period

e) the forecast for the next period

34.Use of a smoothing constant value less than 0.5 in an exponential smoothing model gives more weight to ___________.

a) the actual value for the current period

b) the actual value for the previous period

c) the forecast for the current period

d) the forecast for the previous period

e) the forecast for the next period

35.When forecasting with exponential smoothing, data from previous periods is _________.

a) given equal importance

b) given exponentially increasing importance

c) ignored

d) given exponentially decreasing importance

e) linearly decreasing importance

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