forecasting 2

What is regression used for?

• Identifying the functional relationship between variables

• Counting the number of observations

• Calculating the mean of a dataset

• Sorting data in alphabetical order

In linear regression, what does the dependent variable represent?

• The variable that is not related to other variables

• The variable that is constant

• The variable that causes the results observed in the past

• The variable that is predicted

What does the slope of the regression line represent?

• The rate of change in the dependent variable for a unit change in the independent variable

• The average of the dependent variable

• The intercept with the Y axis

• The standard error of the regression

What function in Excel gives the slope of a regression line?

• Trend()

• Intercept()

• Regression()

• Slope()

What does the coefficient of determination (R^2) measure?

• The correlation between two independent variables

• How close the data are to the regression line

• The number of data points in the dataset

• The standard deviation of the dependent variable

What is the dependent variable in the given table of demand during 7 quarters?

• Actual Demand

• Quarter

• Slope

• Intercept

What is the 95% Confidence interval for the intercept in the regression analysis?

• 45.94 to 0.75

• 7.43 to 0.00

• 0.82 to 1.68

• 32.64 to 36.51

What is the purpose of qualitative forecasting methods?

• When judgment is required, products are new, or the firm has little experience in a new market

• To calculate statistical measures of error

• To perform linear regression analysis

• To identify the independent variables in a dataset

What is the Delphi method used for in forecasting?

• Determining the correlation between variables

• Obtaining forecasts from a set of experts through questionnaires or email

• Calculating the mean absolute deviation

• Updating the trend in Holt-Winter's methods

What is the purpose of MAD and MAPE in forecast error measurements?

• To identify the dependent variable in a dataset

• To determine the intercept in linear regression

• To evaluate the accuracy of forecasting models

• To calculate the slope of the regression line