A Contractor Wants to Forecast the Number of Contracts in Future

question 83

Multiple Choice

A contractor wants to forecast the number of contracts in future quarters, using quarterly data on
Number of contracts over the last 10 years.Which of the following would be the most
Appropriate analysis to perform?

• A) Autoregressive modeling.
• B) One-way ANOVA.
• C) Least-squares forecasting with monthly or quarterly data.
• D) Two-way ANOVA.

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Definitions:

P-value

A measure in statistical hypothesis testing that quantifies the evidence against a null hypothesis, with lower values indicating stronger evidence.

Sample Mean

The average of a set of observations or values taken from a sample of a population.

Population Mean

The average of all the values in a population, representing the central tendency of the population.

Alpha Level

The threshold of significance in hypothesis testing, below which the null hypothesis is rejected, commonly set at 0.05.