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Briefly discuss why ARMA models might well be expected to arise in practice when analyzing a single time series.
Describe ways in which he can obtain such an estimate. Also discuss briefly the factors he should consider when trying to forecast sales for an automobile.
How would you try to investigate for the manufacturer the timing of the introduction and potential success of this invention?
Briefly outline how one might make forecasts based on each of the following approaches : trend-line fitting, indicators, survey and anticipations data.
Discuss how you might try to sell the idea of producing combinations of forecasts to the head statistician of the company.
Briefly describe how you would try to evaluate the truth of this claim and also the quality of this potential leading indicator.
Discuss how you would investigate the usefulness of the U.S. leading indicators for forecasting turning points in the Mexican and Canadian economies.
Discuss the kinds of decisions that need to be made, including those about what information to utilize and how much money to spend and the implications.
How true is it to say that the more data analysis attempted, the better the quality of the forecasts achieved, in general?
Write a criticism of the following scenario : In the mid-1980s the governments of both Britain and the United States, consisting largely of those who had been.
The movie The Perfect Storm is set in a situation where a very short fishing season forces the fishers. Explain how a move to ITQs could solve that problem.
What does the history of the last century tell us about this concern? How can the economic way of thinking help us avoid this pessimistic possibility?
Why will health and safety legislation mandating workplace and product safety standards reduce the profitability of the regulated firms?
How will you spend your next summer vacation? When will you get married, and how many children will you have, if any?
How many hours of television will you watch tomorrow? Next week? How many books will you read purely for enjoyment over the next three months?
What information set would you ask for? What if you were asked to forecast the number of students entering the university in two years time?
How many films you will watch (other than on television) in the next year and how many cups of coffee you will drink in the next week.
What would this do to the actual level of protection provided by a country's nominal tariff schedule?
The same could be said for air bags. Are laws like these necessary for auto safety? Do they save lives and make auto travel safer? Why or why not?
How can the marketing manager know whether demand for a product is elastic or inelastic?
Calculate the 95% confidence interval within which you would expect to find the true mean purity level for solution provided by the foreign supplier.
Even though the wage scale of union members is substantially greater than the minimum wage. Why do you think unions fight so hard for a higher minimum wage?
Explain why perfect personalized pricing is typically more profitable than menu pricing. Why then do companies use menu pricing?
How does the "Concept of Comparative Advantage" actually "prove the advantages" of free trade to both countries involved in a transaction? Explain.
If the maximum number of computer that can be produced per year in the united states is 1,000, draw the U.S production possibilities curve on a graph.