# Bs2, Part 2

52 Questions | Total Attempts: 403  Settings  .

• 1.
The price relative is a price index that is determined by
• A.

(price in period t/base period price)(100)

• B.

(base period/price in period t)(100)

• C.

(price in period t + base period price)(100)

• D.

None of the above

• 2.
A composite price index based on the prices of a group of items is known as the
• A.

Laspeyres index

• B.

Paasche Index

• C.

Aggregate price index

• D.

Consumer Price Index

• 3.
A weighted aggregate price index where the weight for each item is its base period quantity is known as the
• A.

Paasche Index

• B.

Consumer Price Index

• C.

Produces Price Index

• D.

Laspeyres index

• 4.
A monthly price index that uses the price changes in consumer goods and services for measuring the changes in consumer prices over time is known as the
• A.

Paasche Index

• B.

Consumer Price Index

• C.

Producer Price Index

• D.

Laspeyres index

• 5.
A group of observations measured at successive time intervals is known as
• A.

A trend component

• B.

A time series

• C.

A forecast

• D.

• 6.
A component of the time series model that results in the multi-period above-trend and below-trend behavior of a time series is
• A.

A trend component

• B.

A cyclical component

• C.

A seasonal component

• D.

An irregular component

• 7.
The model which assumes that the actual time series value is the product of its components is the
• A.

Forecast time series model

• B.

Multicative ime series model

• C.

• D.

Non of the above

• 8.
A method that uses a weighted average of past values for arriving at smoothed time series values is known as
• A.

The smoothing average

• B.

The moving average

• C.

The exponential averge

• D.

Exponential smoothing

• 9.
In the linear trend equation T = b0 + b1t, b1 represents the
• A.

Trend value in period t

• B.

Intercept of the trend line

• C.

Slope of the trend line

• D.

Point in time

• 10.
In the linear trend equation T = b0 + b1t, b0 represents the
• A.

Time

• B.

Slope of the trend line

• C.

Trend value in period 1

• D.

The Y intercept

• 11.
A parameter of the exponential smoothing model that provides the weight given to the most recent time series value in the calculation of the forecast value is known as the
• A.

Mean square error

• B.

Mean absolut deviation

• C.

Smoothing constant

• D.

None of the above

• 12.
One measure of the accuracy of a forecasting model is
• A.

The smoothing constant

• B.

A deseasonalized time series

• C.

The mean square error

• D.

None of the above

• 13.
The trend component must be linear
• A.

True

• B.

False

• 14.
If historical data are not available, one would forecast using a qualitative approach
• A.

True

• B.

False

• 15.
The price of an item is graphed. Over time, there has been a general increase in price, possibly due to inflation. The time series component used to explain the long term increase is the
• A.

Cyclical component

• B.

Irregular component

• C.

Seasonal component

• D.

Trend component

• 16.
The sales of appliance manufacturers are tied closely to the status of the economy. If the economy is doing well, in general, sales are better. The sales for an appliance manufacturer time series would show a significant
• A.

Cyclical component

• B.

Irregular component

• C.

Seasonal component

• D.

Trend componen

• 17.
The electricity use in Wisconsin time series peaks in July and August as the use of air conditioning increases. The increase at approximately the same time every summer is best explained by the
• A.

Cyclical component

• B.

Irregular component

• C.

Seasonal componen

• D.

Trend component

• 18.
The components that are usually considered predictable are the
• A.

Cyclican and irregular components

• B.

Trend, cyclical and irregular components

• C.

Trend and seasonal componens

• D.

Trend, seasonal and irregular componens

• E.

None of the above

• 19.
The component that must be in every time series is the
• A.

Cyclical componen

• B.

Irregular component

• C.

Seasonal componen

• D.

Trend component

• 20.
The moving average forecasting model presented in the text is appropriate for a time series with the following component(s)
• A.

Irregular

• B.

Trend and irregular

• C.

Trend, cyclical and irregular

• D.

Trend, seasonal, cyclical and irregular

• 21.
The exponential forecasting model presented in the text is appropriate for a time series with the following component(s)
• A.

Irregular

• B.

Trend and irregular

• C.

Trend, cycklical and irregular

• D.

Trend, seasonal, cycklical and irregular

• 22.
N forecasting, the purpose of the mean squared error is to
• A.

Be an unbiased estimator of the within treatment variance

• B.

Be the nemesis of he nice squared error

• C.

Choose between two or more models

• D.

Smooth a time series

• 23.
A collection of statistical methods that generally requires very few, if any assumptions about the population distribution is known as
• A.

Parametric methods

• B.

Nonparametric methods

• C.

Semiparameric methods

• D.

None of the above

• 24.
Which of the following tests would be an example of a nonparametric method
• A.

Z test

• B.

T-test

• C.

Sign test

• D.

All of the above

• E.

None of the above

• 25.
A nonparametric method for determining the differences between two populations based on two matched samples where only preference data is required is the
• A.

Mann-Whiney-Wilcoxon test

• B.

Wilcoxon signed-rank test

• C.

Sign test

• D.

Kruskal-Wallis test

• E.

None of the above

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