Forecasting Techniques

Time series data is typically described over what?

• A random set of events

• A uniform set of time points or period

• A single point in time

• A non-sequential list

What is the technique called for determining the trend and other components of a time series?

• Regression Analysis

• Time Series Analysis

• Correlation Analysis

• Descriptive Statistics

What is the key assumption made in time series analysis regarding future predictions?

• Future predictions are impossible

• Future predictions are based on random guesses

• Future predictions rely on past trends

• Future predictions ignore past data

Which component of a time series captures the regular pattern of fluctuations?

• Trend

• Seasonality

• Noise

• Cycle

What is the primary goal of time series forecasting?

• To identify random events

• To predict future values based on historical data

• To eliminate all data variations

• To analyze a single data point

Which of these is the formula for calculating Expected Values?

• A - T= S

• A = T x S

• ΣPX

• y = a = bx

Which of these is the formula for calculating Expected Values?

• A - T= S

• A = T x S

• ΣPX

• y = a = bx

Which method is commonly used to smooth out short-term fluctuations in time series data?

• Moving Average

• Linear Regression

• Exponential Growth

• Random Sampling

What term is given to the collecting place for costs before there are analysed further?

• Cost unit

• Cost centre

• Responsibility centre

• Cost behaviour

Variable cost per unit is fixed in behaviour. True or False

• True

• False