Exam Qs Flashcards
1
Q
What do the letters stand for in the additive component model A = T + S + E
A
Actual data
Trend
Seasonal component
Errors
2
Q
What are the two time series models? What are they?
A
Additive
Multiplicative
3
Q
What is the underlying assumption when applying a time series model
A
The historical pattern will continue into the future
4
Q
Why use a stem and leaf diagram?
A
Gives a ranking of data as well as a sense of the overall shape of distribution
