Which of the measure(s) of central location can be used for both numerical and categorical variables? Choose from: mean, median, mode, and trimmed mean.
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Which of the measure(s) of central location can be used for both numerical and categorical variables? Choose from: mean, median, mode, and trimmed mean.
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- Which one of the following lists contains one measure of central location and one measure of dispersion? A. Range and Standard deviation B. Mean and Mode C.median and average D. Mode and RangeWhich two measures of central location are equal when data follow a perfectly normal distribution?Match the following attributes of a city with the appropriate scale of measurements: Attribute (P) Average temperature (°C) of a city (Q) Name of a city (S) (R) Population density of a city Ranking of a city based on ease of Business Scale of Measurement (I) Interval (II) Ordinal (III) Nominal (IV) Ratio Which one of the following combinations is correct? A) (P)-(I), (Q)-(III), (R)-(IV), (S)-(II) B) (P)-(II), (Q)-(I), (R)-(IV), (S)-(III) c) (P)-(II), (Q)-(III), (R)-(IV), (S)-(I) D) (P)-(I), (Q)-(II), (R)-(III), (S)-(IV)
- Alvin Cheah is a marketing analyst for Rockstar Travel Company. He wants to analyze the trend of international tourist arrival in Tawau by using international tourist arrival rate and flight delayed rate over the past 10 years as given in Table 2 below: (Hint: Provides your answers in two decimal points) Table 2 Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Arrival (‘000) 35.5 28.0 30.3 36.0 49.5 56.0 72.4 71.0 79.3 96.0 Delayed rate 4.2 3.8 3.8 3.5 4.6 4.5 4.6 4.6 4.7 4.5 a) Propose ONE (1) forecasting model that can be used by Alvin. Why would you proposed that particularmodel? b) Develop the forecasting model that you suggest in (i). Briefly explain yourAlvin Cheah is a marketing analyst for Rockstar Travel Company. He wants to analyze the trend of international tourist arrival in Tawau by using international tourist arrival rate and flight delayed rate over the past 10 years as given in Table 2 below: (Hint: Provides your answers in two decimal points) Table 2 Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Arrival 35.5 28.0 30.3 36.0 49.5 56.0 72.4 71.0 79.3 96.0 C000) Delayed 4.2 3.8 3.8 3.5 4.6 4.5 4.6 4.6 4.7 4.5 rate (1) Propose ONE (1) forecasting model that can be used by Alvin. Why would you proposed that particular model? (5 marks) (ii) Develop the forecasting model that you suggest in (i). Briefly explain your model. (20 marks)Travel Passengers 1 405 2 410 3 420 4 415 5 412 6 420 7 424 8 433 9 438 10 440 11 446 12 451 13 455 14 464 15 466 16 474 17 476 18 482 a) Using a weighted moving average with three periods, determine the sales for day 15. Use 3, 2, and 1 for the weights of the most recent, second most recent, and third most recent periods, respectively b) Find the MAD, MSE and MAPE b) Use exponential smoothing with a smoothing constant of 0.50 to forecast the sales (Assume that last period’s forecast for period 1 is equal to actual to begin the procedure (Ft1=Yt1). Which method do you think is best? Is this an improvement over the weighted average- use MAD only
- What are the advantages of exponential smoothing over the moving average and the weighted moving average?What is the fundamental difference between exponential smoothing and a weighted moving average?Fit a linear trend curve by the least-squares method to the following data and determine trend values and then estimate levels of production in 2010 and 2025. Year 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Production (M Tons) 12 16 20 24 26 30 34 40 44 48 55
- ABC Bank is thinking of opening a new branch in a certain city besides its existing branches due tocustomers’ complaints of long waiting lines and distant of existing branches from them. As an expertin field of banking operations, you were asked to put the criteria of choosing the new location a- If you were asked to choose a mechanism for forecasting the number of transactions per day, what would be the methodology that you will use to decide such forecasting method and what do you think this method may be?The sale data is shown as follows: Month 1: 11 Month 2: 52 Month 3: 95 Using Weighted Simple Moving Average method (Month 1: 0.2; Month 2: 0.3; Month 3: 0.5) to forecast the sales of Month 4: ________ (Round your answer to the nearest integer)Alvin Cheah is a marketing analyst for Rockstar Travel Company. He wants to analyze the trend of international tourist arrival in Tawau by using international tourist arrival rate and flight delayed rate over the past 10 years as given in Table 2 below: (Hint: Provides your answers in two decimal points) (i) Propose ONE (1) forecasting model that can be used by Alvin. Why would you proposed that particular model? (ii) Develop the forecasting model that you suggest in (i). Briefly explain your model.