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Forecasting Time Series Interview Questions & Answers

  • September 07, 2022
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Bharani Kumar Depuru is a well known IT personality from Hyderabad. He is the Founder and Director of AiSPRY and 360DigiTMG. Bharani Kumar is an IIT and ISB alumni with more than 17 years of experience, he held prominent positions in the IT elites like HSBC, ITC Infotech, Infosys, and Deloitte. He is a prevalent IT consultant specializing in Industrial Revolution 4.0 implementation, Data Analytics practice setup, Artificial Intelligence, Big Data Analytics, Industrial IoT, Business Intelligence and Business Management. Bharani Kumar is also the chief trainer at 360DigiTMG with more than Ten years of experience and has been making the IT transition journey easy for his students. 360DigiTMG is at the forefront of delivering quality education, thereby bridging the gap between academia and industry.

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Table of Content

  • Find the false statement about Forecasting.

    • a) Forecasts are rarely perfect.
    • b) The underlying casual system will remain the same in future.
    • c) Forecast for a group of items is accurate than individual item.
    • d) Short-range Forecasts are less accurate than long-range Forecasts.

    Answer - d)Short range forecasts are less accurate than long range forecasts

  • From the below find the technique which is used for Forecasting.

    • a) Judgemental
    • b) Time series
    • c) Associative
    • d) All the above

    Answer - d) All the above

  • In which technique, personalized inputs obtained from many sources are analyzed?

    • a) Judgemental forecast
    • b) Time series forecast
    • c) Associative model
    • d) All of the above

    Answer - a) Judgemental forecast

  • In which technique, data obtained from old events is analysed?

    • a) Judgemental forecast
    • b) Time series forecast
    • c) Associative model
    • d) All of the above

    Answer - b) Time series forecast

  • Delphi is used for

    • a) Judgemental forecast
    • b) Time series forecast
    • c) Associative model
    • d) All of the above

    Answer - a) Judgemental forecast

  • Small differences according to time of the day are known as

    • a) Cycles
    • b) Trend
    • c) Seasonality
    • d) Random variations

    Answer - c) Seasonality

  • Foremost thing to be done in Time Series is _________

    • a) Perform preliminary regression calculations.
    • b) Calculate a moving average.
    • c) Identify relevant correlated variables.
    • d) Plot the data on a graph.

    Answer - d) Plot the data on a graph

  • Which is a Qualitative Forecasting technique?

    • a) Time-series analysis
    • b) Surveys of consumer expenditure plans
    • c) Perspectives of foreign advisory councils
    • d) Both b and c

    Answer - d) both b and c

  • A Qualitative Forecast is used to

    • a) Predict the quality of a new product.
    • b) Predict the direction, but not the magnitude, of change in a variable.
    • c) Predict the direction and the magnitude.
    • d) A forecast that is based on econometric methods.

    Answer - b) Predict the direction, but not the magnitude, of change in a variable

  • Smoothing approach is appropriate when

    • a) Random behavior is the primary source of variation.
    • b) Seasonality is present.
    • c) Data exhibit a strong trend.
    • D) Both b and c.

    Answer - a) Random behavior is the primary source of variation

  • ______ is used for Trend projection.

    • a) Trend Projector machine
    • b) Time-series
    • c) Barometric
    • d) Econometric

    Answer - b) Time-series

  • Econometric Forecast method requires_________

    • a) Accurate estimates of the coefficients of structural equations.
    • b) Forecasts of future values of exogenous variables.
    • c) Appropriate theoretical models.
    • d) All of the above.

    Answer - d) All of the above

  • RMSE is a measure of ___________

    • a) Sample size.
    • b) Moving average periods.
    • c) Exponential smoothing.
    • d) Forecast accuracy.

    Answer - d) Forecast accuracy

  • Which variation is used for estimating the ratio to trend method.

    • a) Cyclical
    • b) Trend
    • c) Seasonal
    • d) Irregular

    Answer - c) Seasonal

  • The cyclical part of time-series data is usually estimated using

    • a) Linear regression analysis
    • b) Moving averages
    • c) Exponential smoothing
    • d) Qualitative methods

    Answer - a) Linear regression analysis

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