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Question: 1. What effect does the value of the smoothing constant have on the weight given to the past forecast and the past observed value?
2. Briefly describe the Delphi technique.
3. What is MAPE, and why is it important in the selection and use of forecasting models?
4. Describe how you can use charts to determine whether a forecasting model is valid.
5. What is a correlation coefficient? Why is it useful?
Draw the normal curve model for auto fuel economy, following the 68-95-99.7 rule. Clearly label the X-axis with the mpg for the appropriate points.
State your null and alternative hypothesis in a complete sentence. What is the 95% confidence interval?
Find the Intercept and slope and Write the Regression Equation. Also predict the amount of tires (in thousand tires) sold when money invested in advertising is 5 thousand dollars. Calculate the correlation coefficient, coefficient of determination..
A researcher conducts a randomized block experiment with interaction and provides the following ANOVA table.
suppose iq score were obtained from a randomnly selected siblings.for such 20 pairs of people the linear corelation is
What standard deviation (within 0.001 inch) minimizes the annual cost of producing elevator rails? You do not need to try standard deviations in excess.
when is it appropriate to use an anova? what is the key piece of information you must know in order to
how large a sample should be taken if the population mean is to be estimated with 90 confidence to within 79? the
Margaret considers five purchases in the amounts 5, 17, 21, 8, 15 dollars with respective probabilities 0.37, 0.22, 0.38, 0.81, 0.63.
Assume the earnings from this investment project is a normal distribution. What is the probability that you will lose money or earn nothing from this project.
suppose x the number of flaws in a roll of polyethylene insulated cable follows a poisson process where ? is 1.1 flaws
The following are distances (in miles) traveled to the workplace by 6 employees of a certain brokerage firm. 20,9,18,13,16,20.
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