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 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 Using a 3-month moving average, the forecast for periods 11 and 12 is Month Apr May Jun Jul Aug Sep Oct Nov Dec 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 Which of the following statements is NOT true regarding forecasting? A forecast that addresses the business cycle by predicting planning indicators is Which of the following is NOT a time-series model? When using

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

Management Jun 24, 2021

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

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

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

Month Apr May Jun Jul Aug Sep Oct Nov Dec

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

Which of the following statements is NOT true regarding forecasting?

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

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

When using exponential smoothing, the smoothing constant

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

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

MAD =
MSE =

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