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Tasha p Tasha p
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Posts: 319
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6 years ago
Natalie needs to compare the number of employees by job title for the last five years. Which of the following charts should Natalie use?
 a. scatter chart
 
  b. bubble chart
 
  c. clustered-column (bar) chart
  d. line chart

Q. 2

The process of ____________ might be used to determine the value of smoothing constant that minimizes the mean squared error.
 a. quantization b. nonlinear optimization
  c. clustering d. curve fitting

Q. 3

The data dashboard for a marketing manager may have KPIs related to
 a. current sales measures and sales by region.
  b. current financial standing of the company.
  c. data on the company's call center.
  d. overall performance of the company's stock over the previous 52 weeks.

Q. 4

Which of the following is true of the exponential smoothing coefficient?
 a. It is a randomly generated value between 1 and +1.
  b. It is small for a time series that has relatively little random variability.
  c. It is chosen as the value that minimizes a selected measure of forecast accuracy such as the mean squared error.
  d. It is computed in relation with the order value, k, for the moving averages.

Q. 5

We create multiple dashboards
 a. to help the user scroll vertically and horizontally to see the entire dashboard.
  b. so that each dashboard can be viewed on a single screen.
  c. to make sure the KPIs are not displayed in the data dashboard.
  d. so that all dashboards can be viewed on a single screen.

Q. 6

The exponential smoothing forecast for period t + 1 is a weighted average of the
 a. forecast value in period t with weight  and the actual value for period t with weight 1  .
  b. actual value in period t + 1 with weight  and the forecast for period t with weight 1  .
  c. forecast value in period t  1 with weight  and the forecast for period t with weight 1  .
  d. actual value in period t with weight  and the forecast for period t with weight 1  .
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Replies
wrote...
6 years ago
Ans. #1

c
RATIONALE: A clustered-column (bar) chart is a special type of column (bar) chart in which multiple bars are clustered in the same class to compare multiple variables.

Ans. #2

b
RATIONALE: Trial and error is often used to determine whether a different smoothing constant  can provide more accurate forecasts, but we can avoid trial and error and determine the value of  that minimizes MSE through the use of nonlinear optimization.

Ans. #3

a
RATIONALE: The KPIs displayed in the data dashboard should convey meaning to its user and be related to the decisions the user makes. For example, the data dashboard for a marketing manager may have KPIs related to current sales measures and sales by region.

Ans. #4

c
RATIONALE: The criterion we will use to determine a desirable value for the smoothing constant  is the same as that proposed for determining the order or number of periods of data to include in the moving averages calculation; that is, we choose the value of  that minimizes the MSE.

Ans. #5

b
RATIONALE: Rather than requiring the user to scroll vertically and horizontally to see the entire dashboard, it is better to create multiple dashboards so that each dashboard can be viewed on a single screen.

Ans. #6

d
RATIONALE: The exponential smoothing forecast for period t + 1 is a weighted average of the actual value in period t and the forecast for period t. The weight given to the actual value in period t is the smoothing constant , and the weight given to the forecast in period t is 1  .
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