Forecasting Time Series Interview Questions & Answers

Table of Content

• Find the false statement about Forecasting.
• From the below find the technique which is used for Forecasting.
• In which technique, personalized inputs obtained from many sources are analyzed?
• In which technique, data obtained from old events is analysed?
• Delphi is used for
• Small differences according to time of the day are known as
• Foremost thing to be done in Time Series is _________
• Which is a Qualitative Forecasting technique?
• A Qualitative Forecast is used to
• Smoothing approach is appropriate when
• ______ is used for Trend projection.
• Econometric Forecast method requires_________.
• RMSE is a measure of ___________.
• Which variation is used for estimating the ratio to trend method.
• The cyclical part of time-series data is usually estimated using.

• 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