Question Details

The type of economic indicator that can best be used for business forecasting 



Question 1

The estimated slope coefficient (b) of the regression equation (Ln Y = a + b Ln X) measures the ____ change in Y for a one ____ change in X.
Answer
a.	percentage, unit
b.	percentage, percent
c.	unit, unit
d.	unit, percent
e.	none of the above
Question 2

For studying demand relationships for a proposed new product that no one has ever used before, what would be the best method to use?
Answer
a.	ordinary least squares regression on historical data
b.	market experiments, where the price is set differently in two markets
c.	consumer surveys, where potential customers hear about the product and are asked their opinions
d.	double log functional form regression model

Question 3

Smoothing techniques are a form of ____ techniques which assume that there is an underlying pattern to be found in the historical values of a variable that is being forecast.
Answer
a.	opinion polling
b.	barometric forecasting
c.	econometric forecasting
d.	time-series forecasting
Question 4

The type of economic indicator that can best be used for business forecasting is the:
Answer
a.	leading indicator
b.	coincident indicator
c.	lagging indicator
d.	current business inventory indicator
e.	optimism/pessimism indicator

Question 5

Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry?
Answer
a.	lagging economic indicators.
b.	leading economic indicators.
c.	coincident economic indicators.
d.	wishful thinking



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