QMB 4680 Midterm Exam with complete solution,latest update Graded A.

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Midterm QMB4680 1. The Delphi method used for forecasting 2. Before launching a new line of toys. Toys inc. used the method of historical analogy to obtain a forecast. In this scenario, toys inc.... 3. In forecasting what is an index? 4. What is a stream of historical data known as? 5. The data for the number of hand-held gaming devices sold for the past 5 weeks are 15 units, 20 units, 25 units. 30 units and 17 units respectively. The time series appears to be relatively stable, without trend, seasonal, or cyclical effects; thus a moving average model would be appropriate. Setting k = 3 the three- period moving average forecast for week 6 is______. 6. For the given data, the simple moving average means absolute deviation is______. 7. Calculate the value of the mean absolute percentage error for the given data 8. If the given time series has no trend and no seasonality, the most appropriate forecasting model to determine the forecast of the time series is the_______ model. 9. If the given time series has a trend and no seasonality, the most appropriate forecasting model to determine the forecast of the time series is the_____model. 10. If the given time series has a trend and seasonality, the most appropriate forecasting model to determine the forecast of the time series uses the _____ model. 11. Indicators are measures that are believed to influence the behavior of variables an individual wishes to forecast. 12. The indexes in the forecasting indicators provide a complete forecast 13. A cyclical effect is one that repeats at fixed intervals of time, typically a year, month,week,or day. 14. If a time series has seasonality but no trend, the most appropriate model used for forecasting is the holt-winters model. 15. Troista mobile accessories sells mobile apps on their web site. If a customer spends on average, $12 per visit and visits the web site 20 times each year, what is the average non discount gross profit during the customer's lifetime? Given that troista makes a margin of 60 percent on the average bill, with 25 percent of customers not returning each year. 16. Which of the following is necessary to calculate the variable cost of production for the company to develop a profit model? 17. In which of the following ways does demand influence profit? 18. Which of the following formulas would be used to calculate the net income value using only the data value? 19. Calculate the revenue for units sold? 20. Calculate the projected sales for the first year? 21. Which of the following is the value for quantity sold? 22. Calculate the customer arrivals at the metza 23. What will be sheila’s salary in her second year of work at simpson? 24. Calculate the total total revenue when the quantity produced us 55,000 and demand is 60,000. 25. Which of the following best defines Monte Carlo simulation? 26. Why is the ROUND function used in excel? 27. Which of the following statements is true of a triangular distribution? 28. What is the value of mean obtained from the simulation results? 29. With respect to B12 what is the range for values given In the parameters section in the discrete dialog? 30. A normal distribution has a limited range and can be skewed in either direction 31. As Monte Carlo simulation is essentially statistical sampling, the larger the number of trials used, the more precise is the result. 32. An increase in adjusted R2 indicates that regression model has improved 33. Which of the following is true of linear functions used in predictive analytical models? 34. When two or more independent variables in the same regression model can predict each other better than the dependent variable, the condition is referred to as_______ 35. Creating a scatter chart with an added treadline is visually superior to the scatter chart generated by line fit plots? 36. While checking for linearity by examining the residual plot, the residuals must: 37. Interaction is? 38. In Excel’s trendline tool, the value of the ________ gives the measure of fit of the line to the data. 39. The R2 value 40. A regression model that involves a single independent variable is called________. 41. The standard error may be assumed to be large if the data are clustered close to the regression line. 42. Excel’s trendline feature cannot be used in modeling trends which include time variables. 43. A(n) is an extreme value that is different from the rest of the data. 44. Which of the following mathematical functions, used in predictive analytical models, is represented by the formula y= ax3 + bx2 +cx + d? 45. In a linear relationship, which of the following accounts for the many possible values of the dependent variable that vary around the mean? 46. What is the value of the coefficient b0? 47. Which of the following statements is true when using Excel regression tool? 48. Categorical variables that have been coded are called_______ 49. A good regression model has the fewest number of explanatory variables providing an adequate interpretation of the dependent variable. 50. Which of the following generates a scatter chart in Excel with the values predicted by the regression model included? 51. Which of the following excel functions is applied to test for significance of regression? 52. What is the relationship between the age of the furniture and their values? [Show More]

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