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UCF QMB 3200 Final Exam Test Study Guide Questions and Answers (Verified Answers) 1.Autocorrelation
: Correlation in the errors that arises when the error terms at
successive points in time are related.
2.Durbin-Watson test
: A test to determine whether first-order autocorrelation is present.
3.General linear model
: A model of the form y=²0+²z11+²2z2+ï+²pzp+µw, here each of
the independent variables zj(j=1,2,...,p) is a function of x1,x2,...,xk, the variables for which data have been collected.
4.Interaction
: The effect produced when the levels of one factor interact with the
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The effect of two independent variables acting together.
5.variable selection procedures
: Methods for selecting a subset of the indepen- dent variables for a
regression model.
6.Time series
: A sequence of observations on a variable measured at successive
points in time or over successive periods of time.
7.Mean Squared Error (MSE)
: The average of the sum of squared forecast errors.
8.Time series plot
: A graphical presentation of the relationship between time and the
time series variable. Time is shown on the horizontal axis and the time series values are shown on the vertical axis.
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: A horizontal pattern exists when the data fluctuate around a constant
mean.
10.moving average
: A forecasting method that uses the average of the most recent k data
values in the time series as the forecast for the next period.
11.stationary time series
: A time series whose statistical properties are indepen- dent of time.
For a stationary time series the process generating the data has a constant mean and the variability of the time series is constant over time.
12.trend pattern
: A trend pattern exists if the time series plot shows gradual shifts or
movements to relatively higher or lower values over a longer period of time.
13.smoothing constant
: A parameter of the exponential smoothing model that provides the
weight given to the most recent time series value in the calculation of
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