. If, as a result of a hypothesis test, you reject the null hypothesis

| February 14, 2018

32. Suppose a composite price index number for 1 gallon of
milk, 2 loaves of bread, and 1 pound of
hamburger was 110 in 2004 and 119 in 2005. If both indices
were computed from 2004 base of 100, the
actual percentage growth over that past tow years is
a. Approximately 8.18%
b. Approximately 9%
c. 19%
d. 0%
e. Can’t be determined from the information given.
10

33. The following table contains the number of complaints
received in a department store for the first 6
months of last year.
Month Jan Feb March April May June
Complaints 36 45 81 92 108 140
If the series is smoothed using exponential smoothing with
smoothing constant of
1
3
, the forecast value
for July is:
a. 100
b. 36
c. 53
d. 66
e. 80

34. The managing partner of an advertising agency believes
that his company’s sales ( t y ) are related to
industry sales ( 1t x ). He uses MINITAB to analyze the last
15 years of quarterly data. The following
regression model has been developed: yˆt  3.862  0.040451 x 1t with the standard error = 0.9224 and the
Durbin-Watson statistic equal to 1.59. The partner wants to
test if a positive autocorrelation exist. Using
5% level of significance, the decision he should make is:
a. The test is unable to make a definite conclusion.
b. There is evidence of positive autocorrelation.
c. There is no evidence of positive autocorrelation.
d. There is evidence of autocorrelation.
e. There is no enough information to perform the test

.

Questions from 36 to 38 deal with a seasonal index being
computed, using the ratio – to – moving –
average method for quarterly data from 2000 to 2004. The
ratio to moving average for the second quarter
of each year are 2000, 0.109; 2001, 0.1128; 2002, 0.11;
2003, 0.108; 2004, 0.1046
36. What is the unadjusted index for the second quarter?
a. 1.0888
b. 1.0900
c. 1.1023
d. 1.1096
e. None of the above.

37. Assume that the total of the unadjusted indices for the
four quarters is 4.0404. If the unadjusted index
for the first quarter is 0.97, what is the adjusted
(normalized) seasonal index for the first quarter?
a. 0.960300
b. 0.979797
c. 0.99
d. 1.08888
e. Can’t be determined from the above information.

38. The adjusted (normalized) seasonal index for the third
quarter is 0.95. If the deseasonalized trend that
was found to estimate quarterly sales is y  400  9x t 
, what would be the seasonalized sales estimate for
the third quarter of 2005?
a. 576.65
b. 607
c. 427
d. 405.65
e. None of the above.
Given below are the prices of a basket of four food items
from 1996 to 2000.
Year Wheat($/Bushel) Corn($/Bushel) Soybeans($/Bushel)
Milk($/hundredweight)
1996 4.25 3.71 7.41 15.03
1997 3.43 2.7 7.55 13.63
1998 2.63 2.3 6.05 15.18
1999 2.11 1.97 4.68 14.72
2000 2.16 1.9 4.81 12.32
Use the data to answer the questions from 39 to 41

39. The simple price indexes for the milk, in 1999 using
1996 as the base year?
a. 101
b. 97.94
c. 81.79
d. 122
e. None of the above.
12

40. What is the Laspeyres price index for the basket of four
food items in 1998 that consisted of 50
bushels of wheat, 30 bushels of corn, 40 bushels of soybeans
and 80 hundredweight of milk in 1996 using
1996 as the base year?
a. 90.91
b. 83.91
c. 73.69
d. 111.38
e. Can’t be determined from the above information

41. If the adjusted Corn price in 1997 is 15.239 and the CPI
in 1997 is 113.81, then the actual price for
Corn in 1993 is
a. 17.3435
b. 13.3898
c. 15.2390
d. 13.8100
e. Can’t be determined from the above information

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