Fitting a Trend Line and Forecasting (VCE SSCE General Mathematics): Quizzes
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Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does the least squares method minimize when fitting a trend line?
What does the least squares method minimize when fitting a trend line?
Squared distances between points and line
In time series regression, what is the explanatory variable (EV)?
In time series regression, what is the explanatory variable (EV)?
The time variable (e.g., year, quarter)
How many significant figures should trend line coefficients typically be rounded to?
How many significant figures should trend line coefficients typically be rounded to?
4-6 significant figures
What does the slope of a trend line represent?
What does the slope of a trend line represent?
The average rate of change per time period
Why should predictions far beyond the original data be treated with caution?
Why should predictions far beyond the original data be treated with caution?
Trends may not continue indefinitely
What is the first step when working with seasonal time series data?
What is the first step when working with seasonal time series data?
Deseasonalise the data
In the DSR process for seasonal data, what does the R stand for?
In the DSR process for seasonal data, what does the R stand for?
Reseasonalise
How do you reseasonalise a deseasonalised prediction?
How do you reseasonalise a deseasonalised prediction?
Multiply by the appropriate seasonal index
If summer year 1 is quarter 1, which quarter is winter year 4?
If summer year 1 is quarter 1, which quarter is winter year 4?
Quarter 15
When must you reseasonalise a prediction?
When must you reseasonalise a prediction?
When trend line was fitted to deseasonalised data