Time Series Analysis

QMDM – APR 2024 – L2 – Q4 – Exponential Smoothing in Time Series Forecasting for Mango Demand

Using monthly demand data for mangos over 15 months, explain exponential smoothing, compute and compare forecasts using alpha=0.1 and 0.4 with initial forecast of 500, describe plots of actual vs forecasts, and comment on suitability.

Question

Kiki, the commercial mango seller has collected demand figures for mangos over the last 15 months in the table below:

Month	Demand
1	470
2	510
3	460
4	490
5	520
6	460
7	1500
8	1450
9	1550
10	1500
11	1480
12	1520
13	1500
14	1490
15	1500

(a) Explain briefly the term “Exponential Smoothing” in Time Series Analysis of the data above. [3 Marks]
(b) Use an initial forecast of 500 to compare Exponential Smoothing Forecasts with Smoothing Constant Values a = 0.1 and a=0.4.
(c) Plot the actual values of the time series and superimpose the forecast for the Smoothing Constant Values a= 0.1 and a=0.4 on the graph of the actual values.
(d) Comment on the suitability of the forecast from the Smoothing Constant Values a= 0.1 and a=0.4.

Answer

Find Related Questions by Tags, levels, etc.

Tags: alpha values, demand data, Exponential Smoothing, Forecasting, plot description, smoothing constant, suitability comment, Time Series Analysis
Level: Level 2

Topic: demonstrate how time-series analysis can be used in business forecasting
Series: APR 2024

PM – Nov 2024 – L2 – Q3 – Budgeting and Budgetary Control

Outline key stages in linking long-term objectives to budgetary control, and explain different budgeting types and forecasting methods.

Question

You are the management accountant of a large manufacturing company in Kaduna. A management retreat has been planned for next week to set the agenda for the preparation for next year’s budget.

Required:

a. Outline the key stages in the planning process that link long-term objectives and budgetary control. (8 Marks)

b. Explain the meaning of the terms ‘fixed budget’, ‘rolling budget’, and ‘zero-based budget’, and discuss the circumstances under which each budget might be used. (8 Marks)

c. Discuss whether time series analysis may be preferred to linear regression as a way of forecasting sales volume. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Budgeting, Fixed Budget, Forecasting, Planning Process, Rolling Budget, Time Series Analysis, Zero-Based Budget
Level: Level 2

Topic: Budgeting and Budgetary Control

QTB – MAY 2016 – L1 – SA – Q15 – Statistics

Identify the graph used to plot a Time Series

Question

The plot of a Time Series as a graph is called

A. Histogram
B. Ogive
C. Pie chart
D. Historigram
E. Z-chart

Answer

Find Related Questions by Tags, levels, etc.

Tags: Data Visualization, Time Series Analysis
Level: Level 1

Topic: Statistics
Series: MAY 2016

QMDM – APR 2024 – L2 – Q4 – Exponential Smoothing in Time Series Forecasting for Mango Demand

Using monthly demand data for mangos over 15 months, explain exponential smoothing, compute and compare forecasts using alpha=0.1 and 0.4 with initial forecast of 500, describe plots of actual vs forecasts, and comment on suitability.

Question

Kiki, the commercial mango seller has collected demand figures for mangos over the last 15 months in the table below:

Month	Demand
1	470
2	510
3	460
4	490
5	520
6	460
7	1500
8	1450
9	1550
10	1500
11	1480
12	1520
13	1500
14	1490
15	1500

Answer

Find Related Questions by Tags, levels, etc.

Tags: alpha values, demand data, Exponential Smoothing, Forecasting, plot description, smoothing constant, suitability comment, Time Series Analysis
Level: Level 2

Topic: demonstrate how time-series analysis can be used in business forecasting
Series: APR 2024

PM – Nov 2024 – L2 – Q3 – Budgeting and Budgetary Control

Outline key stages in linking long-term objectives to budgetary control, and explain different budgeting types and forecasting methods.

Question

You are the management accountant of a large manufacturing company in Kaduna. A management retreat has been planned for next week to set the agenda for the preparation for next year’s budget.

Required:

a. Outline the key stages in the planning process that link long-term objectives and budgetary control. (8 Marks)

b. Explain the meaning of the terms ‘fixed budget’, ‘rolling budget’, and ‘zero-based budget’, and discuss the circumstances under which each budget might be used. (8 Marks)

c. Discuss whether time series analysis may be preferred to linear regression as a way of forecasting sales volume. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Budgeting, Fixed Budget, Forecasting, Planning Process, Rolling Budget, Time Series Analysis, Zero-Based Budget
Level: Level 2

Topic: Budgeting and Budgetary Control

QTB – MAY 2016 – L1 – SA – Q15 – Statistics

Identify the graph used to plot a Time Series

Question

The plot of a Time Series as a graph is called

A. Histogram
B. Ogive
C. Pie chart
D. Historigram
E. Z-chart

Answer

Find Related Questions by Tags, levels, etc.

Tags: Data Visualization, Time Series Analysis
Level: Level 1

Topic: Statistics
Series: MAY 2016

Question Tag: Time Series Analysis

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QMDM – APR 2024 – L2 – Q4 – Exponential Smoothing in Time Series Forecasting for Mango Demand

Using monthly demand data for mangos over 15 months, explain exponential smoothing, compute and compare forecasts using alpha=0.1 and 0.4 with initial forecast of 500, describe plots of actual vs forecasts, and comment on suitability.

PM – Nov 2024 – L2 – Q3 – Budgeting and Budgetary Control

Outline key stages in linking long-term objectives to budgetary control, and explain different budgeting types and forecasting methods.

QTB – MAY 2016 – L1 – SA – Q15 – Statistics

Identify the graph used to plot a Time Series

QMDM – APR 2024 – L2 – Q4 – Exponential Smoothing in Time Series Forecasting for Mango Demand

Using monthly demand data for mangos over 15 months, explain exponential smoothing, compute and compare forecasts using alpha=0.1 and 0.4 with initial forecast of 500, describe plots of actual vs forecasts, and comment on suitability.

PM – Nov 2024 – L2 – Q3 – Budgeting and Budgetary Control

Outline key stages in linking long-term objectives to budgetary control, and explain different budgeting types and forecasting methods.

QTB – MAY 2016 – L1 – SA – Q15 – Statistics

Identify the graph used to plot a Time Series

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QMDM – APR 2024 – L2 – Q4 – Exponential Smoothing in Time Series Forecasting for Mango Demand

Using monthly demand data for mangos over 15 months, explain exponential smoothing, compute and compare forecasts using alpha=0.1 and 0.4 with initial forecast of 500, describe plots of actual vs forecasts, and comment on suitability.

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PM – Nov 2024 – L2 – Q3 – Budgeting and Budgetary Control

Outline key stages in linking long-term objectives to budgetary control, and explain different budgeting types and forecasting methods.

You're reporting an error for "PM – Nov 2024 – L2 – Q3 – Budgeting and Budgetary Control"

QTB – MAY 2016 – L1 – SA – Q15 – Statistics

Identify the graph used to plot a Time Series

You're reporting an error for "QTB – MAY 2016 – L1 – SA – Q15 – Statistics"

QMDM – APR 2024 – L2 – Q4 – Exponential Smoothing in Time Series Forecasting for Mango Demand

Using monthly demand data for mangos over 15 months, explain exponential smoothing, compute and compare forecasts using alpha=0.1 and 0.4 with initial forecast of 500, describe plots of actual vs forecasts, and comment on suitability.

You're reporting an error for "QMDM – APR 2024 – L2 – Q4 – Exponential Smoothing in Time Series Forecasting for Mango Demand"

PM – Nov 2024 – L2 – Q3 – Budgeting and Budgetary Control

Outline key stages in linking long-term objectives to budgetary control, and explain different budgeting types and forecasting methods.

You're reporting an error for "PM – Nov 2024 – L2 – Q3 – Budgeting and Budgetary Control"

QTB – MAY 2016 – L1 – SA – Q15 – Statistics

Identify the graph used to plot a Time Series

You're reporting an error for "QTB – MAY 2016 – L1 – SA – Q15 – Statistics"

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