ECO 550 Midterm Part 2

Aug 6th, 2016
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Question 1 Time-series forecasting models: Answer are useful whenever changes occur rapidly and wildly are more effective in making long-run forecasts than short-run forecasts are based solely on historical observations of the values of the variable being forecasted attempt to explain the underlying causal relationships which produce the observed outcome Question 2 Smoothing techniques are a form of ____ techniques which assume that there is an underlying pattern to be found in the historical values of a variable that is being forecast. Answer opinion polling barometric forecasting econometric forecasting time-series forecasting Question 3 Consumer expenditure plans is an example of a forecasting method. Which of the general categories best described this example? Answer time-series forecasting techniques barometric techniques survey techniques and opinion polling econometric techniques input-output analysis Question 4 The type of economic indicator that can bes

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ECO 550 Midterm Part 2Question 1Time-series forecasting models:Answerare useful whenever changes occur rapidly and wildlyare more effective in making long-run forecasts than short-run forecastsare based solely on historical observations of the values of the variable being forecastedattempt to explain the underlying causal relationships which produce the observed outcomeQuestion 2Smoothing techniques are a form of ____ techniques which assume that there is an underlyingpattern to be found in the historical values of a variable that is being forecast.Answeropinion pollingbarometric forecastingeconometric forecastingtime-series forecastingQuestion 3Consumer expenditure plans is an example of a forecasting method. Which of the generalcategories best described this example?Answertime-series forecasting techniquesbarometric techniquessurvey techniques and opinion pollingeconometric techniquesinput-output analysisQuestion 4The type of economic indicator that can best be used for business forecasting is the:Answerleading indicatorcoincident indicatorlagging indicatorcurrent business inventory indicatoroptimism/pessimism indicatorQuestion 5The forecasting technique which attempts to forecast short-run changes and makes use ofeconomic indicators known as leading, coincident or lagging indicators is known as: Answereconometric techniquetime-series forecastingopinion pollingbarometric techniquejudgment forecastingQuestion 6The use of quarterly

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