________ Derives a Mathematical Equation in the Form of a Straight

question 21

Multiple Choice

________ derives a mathematical equation in the form of a straight line between a single metric criterion variable and a single metric predictor variable.

• A) Bivariate regression
• B) Standard deviation
• C) Standard error of the mean
• D) Analysis of variance
• E) Functional linear analysis

Apply exponential smoothing techniques to forecast future values of a time series.

Identify the effects of different smoothing constants on time series forecasts and the speed of reaction to changes in data trends.

Conduct a moving average analysis to smooth time series data and identify patterns.

Differentiate between the use and purpose of exponential smoothing and moving averages.

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Definitions:

Normative

Relating to or dealing with norms, especially in the sense of prescribing what ought to be rather than describing what is.

Inflation

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Positive Economic Statement

A factual claim about the world that can be tested and validated, referring to what is, rather than what ought to be.

Normative

Normative relates to an ideal standard or model, often reflecting opinions about what is desirable or how things should be, especially in ethics and economics.