MA07 Forecasting

MA07 Forecasting

University

7 Qs

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MA07 Forecasting

MA07 Forecasting

Assessment

Quiz

Other

University

Practice Problem

Hard

Created by

Ting Irenda

Used 8+ times

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7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is the key difference between a FORECAST vs a BUDGET?

A budget is an estimate of what will happen in the future.

A forecast is a plan of the utilization of the company's resources in the future.

A forecast is a detailed representation of the company's plan for the future.

A budget is a plan of the utilisation of the company's resources in the future.

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The key difference between the excel function FORECAST and REGRESSION function is

FORECAST Function can have more than one independent variables.

FORECAST Function can have more than one dependent variables.

REGRESSION function can have more than one independent variables.

REGRESSION function can have more than one dependent variables.

3.

MULTIPLE CHOICE QUESTION

20 sec • 5 pts

In the formula Y = m1 X1 + m2 X2 + C,

m1 and m2 are termed as ______

independent variables

dependent variables

coefficients

intercept

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

In the formula Y = m1 X1 + m2 X2 + C,

X1 and X2 are termed as ______

Independent Variables

Dependent Variables

Intercept

Coefficients

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Regression Formula:

Module Grades = (m1 x Study Time) - (m2 x Social Media time) + C

Which of the following statement is true of the above Regression formula?

Module Grades is the Independent Variable.

Study Time and Social Media time are the Dependent Variables

The higher the Social Media time the lower the Module Grade.

If Study Time and Social Media Time are 0, then Module Grade is 0.

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The Hong Kong government has predicted that in the next month, there's a possibility of 30% of Grade 1 typhoon, and 60% of a tropical storm.

What is the probability that it will be a light rain?

10%

100%

60%

30%

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

In a Regression Analysis, R2 = 0.97 refers to ______.

the observed dependent variables are extremely scattered around the regression equation

the observed independent variables are closely aligned to the regression equation.

the observed independent variables are extremely scattered around the regression equation.

the observed independent variables are a perfect fit to the regression equation.

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