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Consider the model Yt = 0 + 1X1t + 2X2t + 3Yt-1. Using a sample of 36 months, we estimate this model and obtain yt

Consider the model Yt = 0 + 1X1t + 2X2t + 3Yt-1. Using a sample of 36 months, we estimate this model and obtain yt = 1.33 + 17.6x1t + 0.94x2t + 0.39yt-1. What value would we typically expect for 3?

a.

> 0

b.

-1 < < 1

c.

0 < < 1

d.

> 1

2.The table below is the data set of the number of preorders received for a particular game on a weekly basis. The forecaster uses Holt-Winters exponential smoothing for nonseasonal series to forecast the number of preorders in future time periods, where = 0.8 and = 0.5.

Week Preorders

1 266

2 310

3 330

4 342

5 388

6 462

7 548

8 624

The approximate level estimate for week 8 is _____ units.

a.

696

b.

453

c.

620

d.

539

The Holt-Winters exponential smoothing procedure...

a.

Does not allow for trend or seasonality in a time series.

b.

Does not allow for trend, but allows for cyclicality, in a time series.

c.

Allows for seasonality, but does not allow for trend, in a time series.

d.

Allows for trend and also possibly seasonality in a time series.

The Holt-Winters seasonal method comprises the forecast equation and...

a.

One smoothing equation.

b.

Three smoothing equations with three smoothing parameters.

c.

Two smoothing equations with two smoothing parameters.

d.

One smoothing equation with one smoothing parameter.

Which of the following is not a good reason for including a disturbance term in a regression equation?

a.

To allow for the non-zero mean of the dependent variable.

b.

It captures omitted determinants of the dependent variable.

c.

To allow for random influences on the dependent variable.

d.

To allow for errors in the measurement of the dependent variable.

A brewery claims that the proportion of alcohol in its new drink is at most 10 percent. A random sample of 100 bottles of the drink were selected and found to consist of 9 percent alcohol. What is the value of test statistic for this sample?

a.

-0.85

b.

-1.66

c.

2.70

d.

-0.33

If the value of a correlation is reported by a researcher to be r = -0.5, then the x-variable explains _____ percent of the variability in the y-variable.

a.

-25

b.

-50

c.

25

d.

50

Heteroscedasticity and autocorrelation both occur due to...

a.

Biased coefficient estimates.

b.

Highly correlated independent variables.

c.

Violations of assumptions in the distribution of error terms.

d.

Uniform variances across dependent variables.

A manager is considering the purchase of new production equipment to improve the output of the plant. Suppose the equipment from two suppliers is tested extensively in multiple production runs. A total of 20 runs are recorded on Supplier A's equipment and another 15 runs are reported from Supplier B's equipment. The volume produced is recorded for each of the 35 runs. The results are summarised in the table below.

Supplier A Supplier B

Sample means 110 125

Sample standard deviation 10 15

The value of the test statistic for determining if there is a difference in the population variances for Supplier A and B is equal to...

a.

2.25

b.

1.5

c.

0.67

d.

0.44

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