Binary variables are best suited to be the decision variables when dealing with yes-or-no decisions. O True False
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- Question: 4a. Eesha is doing very well in Intermediate Microeconomics, but hires a graduate student to spend 2 hour a week with her to do practice questions together. Eesha always manages to do all questions correctly on her own but she insists on doing the questions together with the graduate student. Is this rational behaviour? Discussb. A webpage on behavioural economics that requires subscription to access the content is being marketed on the Internet as a way to enhance people’s savings. As an experiment, the marketing firm wants to direct half of the web hits to a page that advertises the webpage as 80% successful in improving savings while the other half are directed to a page that advertises the webpage as failing to get 20% of the people to save. Would you expect equal numbers of sales from the 2 advertising approaches? Discuss.QUESTION 3 A department store has recorded the sales of the best selling can opener model during the last 6 months. Observed values of the can opener sales are: Period 1 2 3 4 5 6 Sales 25 22 26 33 28 30 Use Holt’s double exponential smoothing with smoothing coefficients α=0.3, β=.15, S1=24.13 and G1=1.484 to calculate F1,2, G2 and S2. F1,2 = S2 = G2 =Question 1 Double Exponential Smoothing should be applied to time series with ____________________. Group of answer choices a. no trend and no seasonality. b. trend but no seasonality. c. seasonality but no trend. d. both trend and seasonality. Question 2 An analyst fits a Holt’s Double exponential smoothing model in StatTools to a time series data on sales with the smoothing parameters to be optimized by the software. In the output she notes that the optimized smoothing parameter for trend to be 0.0000. What does this imply? Group of answer choices a. There is no trend in the data. b. There is both trend and seasonality in the data. c. There could be trend in the data, but it is not smoothed over time by the model. d. This output does not make any sense!
- Question 3 A NASA manager testified to the Rogers Commission that they hoped the backup O-ring on Challenger's solid rocket boosters would be the sealing O-ring under the worst case conditions. This is an illustration of which Irving point: Group of answer choices A) Shared illusion of unity B) The illusion of invulnerability C) Stereotyped views of others D) Having a moderately cohesive groupMultiple choice question Productivity increases when Select one: a. inputs increase while outputs remain the same b. outputs decrease while inputs remain the same c. inputs decrease while outputs remain the same d. inputs and outputs increase proportionately Question 17 One of the disadvantages of the perpetual counting system is that there is no stock control between counting periods. Select one: a. False b. True Question 18 Areas that commonly feature industrial engineers include all but one of the following: Select one: a. Total quality management b. Ergonomics c. Guidelines for profit sharing. d. Setting labour standards e. Setting parameters for bonus schemes Question 19 The main purpose of industrial engineering is to study the relationship between ______________ and _____________. Select one: a. Stakeholders and management. b. Humans and machines. c. Money and profit. d. Marketing and…QUESTION 2 In an effort to reduce energy costs, a major university has installed more efficient lights as well as automatic sensors that turn the lights off when no movement is present in a room. Historically, the cost of lighting an average classroom for 1 week has been $265. To determine whether the changes have signficantly reduced costs, the university takes a sample of 50 classrooms. They find that the average cost for 1 week is $247 with a standard deviation of $60. When testing the hypothesis (at the 5% level of significance) that the average energy use has decreased from the past, what is the test statistic? (please round your answer to 2 decimal places)
- Question 13 We should be very careful of the problem of _______. The test units who drop out may be systematically different from the test units who remain. For example, salespeople who drop out of a sales training program may be the ones who do not gain anything from the program. In that case, the experiment will only measure the change of effectiveness for the test units who do not leave. history mortality Main testing effect Selection biasQuestion 2Chad and James are two veteran sales executives who have been working for a well-established car distributor selling new cars. About six years ago, believing that there were good prospects in starting a business in selling used cars, both gentlemen left their employment to venture out.Since the beginning of their company, sales had been quite positive, but the owners now wanted to know more about future sales using an appropriate forecasting method. For a start, they wanted to focus on the quarterly sales of a popular brand of used cars.The sales figures over the last five years were used for the forecast. They are presented in the table below. (c) Explain why forecasting, despite its usefulness or sophistication, should only be considered a useful tool for decision making in any business. What are other factors that need to be considered? (d) The business of selling cars in Singapore, like many businesses, is subject to uncertainties.Discuss three (3) external factors,…QUESTION 4 In an effort to reduce energy costs, a major university has installed more efficient lights as well as automatic sensors that turn the lights off when no movement is present in a room. Historically, the cost of lighting an average classroom for 1 week has been $265. To determine whether the changes have signficantly reduced costs, the university takes a sample of 50 classrooms. They find that the average cost for 1 week is $247 with a standard deviation of $60. When testing the hypothesis (at the 5% level of significance) that the average energy use has decreased from the past, what is your conclusion concerning the null hypothesis? Reject the null hypothesis Fail to reject the null hypothesis
- QUESTION 4 Suppose the following are the seasonal indices for the first three quarters of the year for a quarterly series: Quarter Seasonal Index Q1 72.4 Q2 85.3 Q3 109.6 Remember that the seasonal indices should average 100 so you should be able to infer the seasonal index for Q4. Furthermore, suppose that the estimated coeffcients from a regression of the deseasonalized series on Time are given below: Coefficients Intercept 2,506 Time 71.3 If the original value of the series in a Q1 was 2,040, then what is the seasonally adjusted value? (please round your answer to 1 decimal place)QUESTION 3 In an effort to reduce energy costs, a major university has installed more efficient lights as well as automatic sensors that turn the lights off when no movement is present in a room. Historically, the cost of lighting an average classroom for 1 week has been $265. To determine whether the changes have signficantly reduced costs, the university takes a sample of 50 classrooms. They find that the average cost for 1 week is $247 with a standard deviation of $60. When testing whether the average energy use has decreased from the past (with a null hypothesis that the use has increased) (using the 5% level of significance), what is the p-value? (please round your answer to 4 decimal places)Question 35 Suppose the actual sales and the forecasted, or smoothed sales, for the past 5 months have been Actual Smoothed 54.4 76.8 54.4 75.5 72.3 53.2 74.8 39.2 57.6 What is the Mean Square Error of the smoothed series? (please round your answer to 1 decimal place)