
Time Series-Quiz

Quiz
•
Engineering
•
University
•
Medium
Praveen Loharkar
Used 2+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a common forecasting method used in hierarchical time series analysis?
Top-up approach
Bottom-up approach
Moving Average Method
Time-Series Decomposition
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does the bottom-up approach differ from the top-down approach in aggregation strategies?
The bottom-up approach aggregates from detailed data to a summary, while the top-down approach starts with a summary and breaks it down into details.
Both approaches aggregate data in the same way, focusing on the same level of detail.
The bottom-up approach is faster than the top-down approach because it requires less data processing.
The bottom-up approach starts with a summary and breaks it down into details, while the top-down approach aggregates from detailed data to a summary.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Explain the concept of aggregation in the context of hierarchical time series.
Aggregation in hierarchical time series is the process of summarizing data from lower levels of a hierarchy to higher levels, enabling analysis of overall trends.
Aggregation involves analyzing individual data points without summarizing them.
Aggregation is only applicable to flat time series data.
Aggregation refers to the process of collecting data without any hierarchy.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you identify seasonal patterns in a time series dataset?
Use visual inspection, decomposition methods, ACF analysis, and seasonal subseries plots.
Use linear regression analysis only
Ignore outliers in the dataset
Focus solely on the mean values of the data
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Describe a situation where a middle-out approach might be beneficial in hierarchical forecasting.
A middle-out approach is ineffective in any forecasting scenario.
A middle-out approach is beneficial in a retail company forecasting sales at regional levels to improve accuracy by integrating store and national data.
A middle-out approach focuses solely on individual store performance without considering regional data.
A middle-out approach is used only for financial forecasting at the corporate level.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are some challenges associated with forecasting in hierarchical time series?
Forecasting is always accurate in hierarchical time series.
There are no challenges in hierarchical time series forecasting.
Data quality is never an issue in forecasting.
Challenges include consistency across levels, model complexity, data quality issues, and aggregation method impacts.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Determine the appropriate components of time series for the situation below:
The sales of school uniforms during the year-end school holiday.
Trend
Seasonal Variations
Cyclical Variations
Irregular fluctuations
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