Instruction 14-7 Business Closures in Perth from 2005 to 2010 Were

question 85

True/False

Instruction 14-7
Business closures in Perth from 2005 to 2010 were:
1993 10
1994 11
1995 13
1996 19
1997 24
1998 35
Microsoft Excel was used to fit both first-order and second-order autoregressive models,resulting in the following partial outputs:
SUMMARY OUTPUT - 2^nd Order Model
Coefficients
Intercept -5.77
X Variable 1 0.80
X Variable 2 1.14
SUMMARY OUTPUT - 1^st Order Model
Coefficients
Intercept -4.16
X Variable 1 1.59
-Referring to Instruction 14-7,the values of the MAD for the two models indicate that the first-order model should be used for forecasting.

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Definitions:

Formal Operational

The fourth and final stage of Jean Piaget's theory of cognitive development, occurring from around age 12 and beyond, marked by the ability to think abstractly, logically, and systematically.

Concrete Operational

A stage in Piaget's theory of cognitive development where children gain the ability to think logically about concrete events.

Language

A form of communication—whether spoken, written, or signed—that is based on a system of symbols.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or touched, a concept important in cognitive development of infants.