Characteristics of Forecasting Models Include All of the Following, Except

question 29

Multiple Choice

Characteristics of forecasting models include all of the following, except ________.

• A) data required
• B) economic conditions
• C) relative cost
• D) forecast horizon

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Definitions:

Ith Residual

The difference between the observed value of the dependent variable and the value predicted using the estimated regression equation; for the ith observation the ith residual is yi − yˆi.

Coefficient Of Correlation

A statistical measure that calculates the strength of the relationship between the relative movements of two variables.

R-Square

A statistical measure that represents the proportion of the variance for a dependent variable that's explained by an independent variable or variables in a regression model.

Prediction Interval Estimate

A prediction interval estimate is a range of values that is likely to include the value of a single new observation predicated on the existing data set.