Reference no: EM132227409

Instructions

1. True or False. Regression analysis is used to understand the relationship between variables and to predict the value of one variable based on another variable.

True _____________ False ____________

2. In seminar, we discussed the regression of local payroll on Triple A’s sales. In Triple A’s problem, clarify which variable is X and which is Y.

X = __________________ Y = ___________________

3. True or False. Multiple regression models have more than one independent variable. True _____________ False _____________

4. True or False. A scatter diagram or scatter plot often used to investigate the relationship between variables. True _____________ False ____________

5. True or False. In a scatter plot, the independent variable is normally plotted on X axis and the dependent variable is normally plotted on Y axis.

True _____________ False _____________

6. What is the main purpose of forecasting?

7. When is a qualitative forecasting model appropriate?

8. Name a qualitative forecasting technique.

9. Four possible components of a time series analysis include:

a. Trend, seasonal, cyclical, and random. b. Random, weekly, seasonal, and rhythm. c. Monthly, random, trend, and seasonal. d. Cyclical, trend, monthly, and seasonal.

10. What is the formula for Mean Absolute Deviation?