Question

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 from the descriptive statistics

3. What is the primary purpose of the third step when you are evaluating a linear regression model?

Multiple Choice

• To evaluate the explanatory power of the model.

• To understand whether the relationship is statistically significant at the desired level of confidence.

• To determine if the model has negative serial correlation.

• To assess whether the model is logical.

4. What is the best way to decide on whether a linear or nonlinear model would be most appropriate?

Multiple Choice

• An evaluation of the subsample of the historical data.

• A forecast of the independent variables.

• A review of the dependent variable, the series to be forecast, and the independent variable(s).

• A visual inspection of the data in a graphical format.

5. What assumption does the causal model make?

Multiple Choice

• Changes in the dependent variable will cause changes to other dependent variables.

• Changes in the independent variable will cause a change in the variable to be forecast.

• No changes occur.

• Changes only occur in the variable to be forecast, but that change is not related to the independent variable.

Answer 1

As per the HOMEWORKLIB RULES, we are allowed to answer 1 question, in case of multiple questions being asked or else we will be revoked, sorry.

Question 1

For time series data, Gompertz curve is the best fit model. Gompertz function is a type of mathematical model for a time series, named after Benjamin Gompertz (1779-1865). It describes growth as being slowest at the start and end of a given time period.

Hence, the correct option will be Gompertz Curve.