A) What are the building blocks of a univariate time series model?
B) Give one of the ‘ad hoc’ time series forecasting techniques.
C) How would you identify the correct specification for an ARIMA model within the BoxJenkins approach?
A. The building blocks of a univariate Time Series model are AR (autoregressive), MA (moving average) and ARMA (autoregressive moving average). We should make the data stationary.
B. ARMA Auto-Regressive Moving Average Technique is an ad-hoc time series forecasting technique.
C. An effective procedure for building
empirical time series models is
the Box-Jenkins approach, which consists of three stages:
(1) Model specification or identification (of ARIMA order),
(2) Estimation
(3) Diagnostics testing.
• Box-Jenkins Approach
1) Make sure data is stationary –check a time plot. If not, differentiate.
2) Using ACF & PACF, guess small values for p & q.
3) Estimate order p, q.
4) Run diagnostic tests on residuals.
A) What are the building blocks of a univariate time series model? B) Give one of...
5.This is a copy of the original series moved forward two time periods A. Lagged series with no lag B. Lagged series with lag-1 C. Lagged series with lag-2 D.None of the above 6. This reflects swings in the series, where high values are immediately followed by low values and vice versa. A.Negative lag-1 autocorrelation B. Strong autocorrelation C. Positive lag-1 autocorrelation D.All the above 7.This approach is generally taken to take advantage of auto correlation A. Directly build autocorrelation...
What are the major elements in applying Time Series Regression Model to forecasting? Could you provide us with a real-world example that you may use this method in forecasting? Also, please choose one of the models that would be most appropriate for your case and explain your rational.
Model building: What plot will you generate to motivate that following model will be appropriate to fit to the data a) Linear Regression b) Logistic Regression c) Time series
(a) In about 5 lines explain how associative methods of forecasting differ from Time series methods of forecasting. (b) Which one would you use to explain how the demand for pork might affect the demand for beef? What all does Hard Rock Café’s Point of Sale (POS) system capture? At what level is the information aggregated? (a) In about 5 lines, discuss the key differences between Time Series method of forecasting and Qualitative Methods of forecasting. (b) Name...
Which of the following is NOT a time-series model? a. exponential smoothing b. naive approach c. multiple regression d. moving average
Using a computer package, find the degree of differencing needed to make the thermostat sales time series stationary. Then use the computer package to identify a Box-Jenkins model for forecasting thermostat sales. Perform appropriate diagnostic tests a. unit root testing is scope of this book, but an interested reader ght start by looking at a paper by Dickey, Bell, and 8 ller (1986) after mastering the notation in Chapter of this text. Taking differences when it is not cessary to...
1. If you were to graph a time series and it followed a trend that was close to linear, then what type of forecasting model would you use? Multiple Choice Bass model Bivariate linear regression Simple moving average Gompertz curve 2. Visualization of data allows you to ____________________. Multiple Choice be as transparent to management as required more clearly identify the dependent and independent variables better understand if you need more data see stark differences that would not be apparent...
5) The following MINITAB output is for ARIMA model of certain time series of size 132. Type AR 1 AR 2 SAR 12 -0.27124 0.0662 1.590.113 Constant 0.074870.08826 -3.07 0.0026 Coef 0.62993 0.07249 8.69 0.001 0.20816 0.07344 2.83 0.0053 SE Residuals: SS-0.0002323 MS- 0.001409, DE=117 Modified Box-Pierce (Ljung-Box) Chi-square statistio Lag Chi-Square 8.6 15.4 28.038.7 DE P-Value 0.3859 0.7635 0.7029 0.6014 12 24 36 8 7 31 43 Which parameters should be included in the model and why? Based on...
fou have some wooden blocks attached with each other given in the figure. Now, you fire a bullet with a certain velocity V. from a distance s from the series of blocks. If the bullet has an acceleration a towards the series then, (a) find an expression for the velocity with which it will hit the first block. What type of acceleration should it have, positive or negative? (b) find the expression for distance it will travel inside the series...
Q7 We have observed the time series shown in the following line chart: 60 50 40 30 20 10 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Time Which would be the most appropriate forecasting model to use for this time series? Select one: a. Regression b. Single exponential smoothing O c. Holt-Winters (including both trend and seasonality) O d. Double exponential smoothing