Analytics - Chapter 11 - Time Series Forecasting
What are short-term, unanticipated, and nonrecurring factors in a time series?
Irregular events
Name 3 standard time series error measure?
MAD, MSE, MAPE
Which one of the following is NOT a standard time series error measure?
MTM
Which one of the following is a measure of forecasting accuracy?
Mean absolute deviation
What does the cyclical component of a time series represent?
Periodic fluctuations which occur over a multi-year period
What is the forecast value when the smoothing coefficient for the simple exponential smoothing model is equal to one?
Previous actual value
Which one of the following is NOT a component of the cyclical variation?
Random
What graphic is best for detecting a trend in a time series?
Scatter diagram
Which one of the following would have the largest seasonal usage variation?
Snow blowing equipment
What is the gradual shifting of a time series over a long horizon called?
Trend
Which of the following terms describes the overall long-term tendency of a time series?
Trend
Name the components of the cyclical variation?
Upswing, Trough, Peak