Exam 6: Time Series Analysis Forecasting

All of the following are true about qualitative forecasting methods except

A forecasting method that computes a weighted average of all of the previous actual values of the time series is ​

One measure of the accuracy of a forecasting model is the

What is a stable time series,and what forecasting methods are appropriate for one?​

An alpha (α)value of .2 will cause an exponential smoothing forecast to react more quickly to a sudden drop in demand than will an α equal to .4.

Time series data can exhibit seasonal patterns of less than one month in duration.

Seasonal patterns

​Whenever a categorical variable such as season has k levels,the number of dummy variables required

If the random variability in a time series is great,a high α value should be used to exponentially smooth out the fluctuations.

Smoothing methods are more appropriate for a stable time series than when significant trend or seasonal patterns are present.

Explain what conditions make quantitative forecasting methods appropriate.​

The trend pattern is easy to identify by using

Using a naive forecasting method,the forecast for next week's sales volume equals

Which of the following exponential smoothing constant values puts the same weight on the most recent time series value as does a 5-period moving average?

Which of the following forecasting methods puts the least weight on the most recent time series value?

If a time series has a significant trend pattern,then one should not use a moving average to forecast.

The focus of smoothing methods is to smooth out

A time series model with a seasonal pattern will always involve quarterly data.

Gradual shifting of a time series to relatively higher or lower values over a long period of time is called

Forecast errors