A repeated pattern of spikes or drops in demand associated with certain times of the year in a time series is A. a trend. B. randomness. C. regression. D. seasonality.
Added by Jenna E.
Step 1
A trend refers to a long-term movement in data, randomness indicates unpredictable fluctuations, and regression is a statistical method for modeling relationships between variables. Show more…
Show all steps
Close
Your feedback will help us improve your experience
Sri K and 53 other Intro Stats / AP Statistics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
The exponential smoothing method of forecasting is the most appropriate method for time series that exhibit: A. irregularity. B. seasonality. C. a constant downward trend. D. a constant upward trend. 1. The seasonal component in a time series reflects a long-term, relatively smooth pattern or direction. True False 2. Seasonality is a time-series component. True False 3. Which of the following components describe the up and down movements of a time series that vary both in length and in intensity? A. the cyclical component B. the trend component C. the seasonal component D. the irregular component 4. In which component of the time series will the effect of an unpredictable, rare event be contained? A. the seasonal component B. the irregular component C. the cyclical component D. the trend component 5. The irregular component of a time series exhibits a tendency to grow or decrease rather steadily over long periods of time. True False 6. We can smooth a time series using the method of moving averages, based on the idea that any large irregular component at any point in time will exert a smaller effect if we average the point with its immediate neighbors. True False 7. An apartment complex manager randomly selects 10 buildings from the complex's 30 buildings, and then interviews one household member from each apartment in the 10 buildings. This is an example of cluster sampling. True False 8. The Holt-Winters Exponential Smoothing procedure allows only the trend component in a time series. True False 9. Simple exponential smoothing provides a forecast based on a weighted average of current and past values. True False 10. If a time series is rather smooth, we would use a large value for the smoothing constant α in order to give more weight to the most recent observation. True False 11. The exponential smoothing method of forecasting is the most appropriate method for time series that exhibit: A. irregularity. B. seasonality. C. a constant downward trend. D. a constant upward trend.
Sri K.
Holt's model differs from simple exponential smoothing in that it includes a term for: a. residuals b. seasonality c. trend d. cyclical fluctuations.
The time series component that exhibits a repeating pattern over successive periods, often one-year intervals is called A. a cyclical component B. a trend component. C. seasonal component. D. irregular component.
Christopher D.
Recommended Textbooks
Elementary Statistics a Step by Step Approach
The Practice of Statistics for AP
Introductory Statistics
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD