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GATE 2023 II Forecasting II Quiz 56

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Question 1

Which of the following is the correct regarding the Naive approach of forecasting __________.

Question 2

For an exponential smoothing method of forecasting, the value of number of periods is 12, Find the exponential smoothing coefficient α for such a forecasting model.

Question 3

Which one of the following methods does not come under short term forecasting?

Question 4

Consider the following statements regarding the forecasting:

1. Forecast for groups of items tend to be more accurate than forecasts for individual items.

2. Forecast accuracy decreases as the time horizon increases.

Which of the following statements is/are correct __________?

Question 5

Consider a simple linear regression model: y = βo1X + ϵ:

1. βo is the linear regression coefficient and is termed as intercept term.

2. β1 is termed as slope term.

3. Component ϵ accounts for the failure of data to lie on the straight line and represents the difference between the true and observed realization of y.

Which of the following statements is/are correct __________?

Question 6

Expression of forecast of a month, when forecast & demand of the previous month is given
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