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Homework answers / question archive / Rutgers University PSYCHOLOGY 01:830:123 Quiz 3 1)Lenovo uses the ZX-81 chip in some of its laptop computers

Rutgers University PSYCHOLOGY 01:830:123 Quiz 3 1)Lenovo uses the ZX-81 chip in some of its laptop computers

Management

Rutgers University

PSYCHOLOGY 01:830:123

Quiz 3

1)Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 12 months were as follows:

 

 

 

Month

Price Per Chip

Month

Price Per Chip

January

$1.90

July

$1.80

February

$1.61

August

$1.75

March

$1.60

September

$1.70

April

$1.85

October

$1.60

May

$1.88

November

$1.50

June

$1.89

December

$1.75

 

  1. Using a 2-month moving average, the forecast for periods 11 and 12 is

 

 
   
 

 

Month            Mar   Apr May Jun Jul Aug Sep  Oct                       Nov                         Dec

 

 

  1. Using a 3-month moving average, the forecast for periods 11 and 12 is

 

 
   
 

 

Month           Apr May Jun Jul Aug Sep  Oct                     Nov                         Dec

 

 

  1. The mean absolute deviation based on a 2-month moving average of March through December is

 

The mean absolute deviation based on a 3-month moving average of April through December is

 

 
   
 

 

 

  1. Which of the following statements is NOT true regarding forecasting?

 

  1. A forecast that addresses the business cycle by predicting planning indicators is

 

  1. Which of the following is NOT a time-series model?

 

  1. When using exponential smoothing, the smoothing constant

 

  1. Attendance at Orlando's newest Disneylike attraction, Lego World, has been as follows:

 

 

 
   

 

 

Quarter                    Guests                    Quarter                    Guests

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

(in thousands)

Winter Year 1

63

Summer Year 2

124

Spring Year 1

99

Fall Year 2

52

Summer Year 1

149

Winter Year 3

99

Fall Year 1

75

Spring Year 3

161

Winter Year 2

64

Summer Year 3

210

Spring Year 2

83

Fall Year 3

97

 

Based on the given attendance, the seasonal indices for each of the seasons are

 

 

 
   

 

 

 

  1. Dr. Lillian Fok, a New Orleans psychologist, specializes in treating patients who are agoraphobic (i.e., afraid to leave their homes). The following table indicates how many patients Dr. Fok has seen each year for the past 10 years.

 

 

 
   

 

 

Year                                       1      2       3       4       5       6       7       8       9      10

 

Number of Patients 37 34 39 41 42 54 58 53 58 61

 

 

The simple linear regression equation that shows the best relationship between the number of patients and year is

 

Using linear regression, the number of patients Dr. Fok will see in year 11 =

patients Using linear regression, the number of patients Dr. Fok will see in year 12 =

 

 
   

 

 

 

8. Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures:

 

 

Forecast 100

110

120

130

Actual           95

108

123

130

 

  1. MAD =
  2. MSE =

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