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QMB 3200 MIDTERM UCF
QUESTIONS AND ANSWER S
Question 1: Which of the following statements regarding
a time series technique is true?
CORRECT ANSWER : Time series techniques focus on
the historical behavior of some outcome of interest to predict its future behavior.
Question 2: Which time series technique predicts a future
value by combining the previous prediction and some portion of the error in the prediction?
CORRECT ANSWER : Simple exponential smoothing
Question 3: Which of the following correlation coefficient
values represents the strongest positive correlation between two factors in a data set?
CORRECT ANSWER : r-=0.931
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Question 4: It is NOT possible for a forecast to be both
responsive and inaccurate.
CORRECT ANSWER : False
Question 5: In a time series, what is a black swan?
CORRECT ANSWER : a particularly high-impact
incident of extreme consequence that is unexpected or considered highly improbable
Question 6: Calculating a regression equation for a given
set of data identifies the specific values of ____
CORRECT ANSWER : the slope and intercept
Question 7: Averaging forecast errors over time results in
the performance measure known as *****?
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CORRECT ANSWER : mean error
Question 8: What is the ME for the forecast errors of 5,
10, 0, and -3?
CORRECT ANSWER : 3
Question 9: one-time shocks to a time series from a
distinctly external influence, such as a sudden dip in consumer sales after a disruptive event, are called ____ variations
CORRECT ANSWER : exogenous
Question 10: Several forecasting methods rely on insights
from a group of people, but which method does NOT have the group discuss their opinions?
CORRECT ANSWER : Delphi Groups
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Question 11: Which of the following forecasting
measures calculates the average of the absolute values of a set of forecast errors?
CORRECT ANSWER : MAD
Question 12: The alpha value (o) in the exponential
smoothing formula is known as the
CORRECT ANSWER : smoothing constant
Question 13: Queue________ specifies the order in which
waiting arrivals are serve.
CORRECT ANSWER : Discipline
Question 14: The break-even point is the level of
production at which