Time Series Analysis & Its Applications


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question 1 of 3

Time series analysis is LEAST helpful in forecasting and predictive applications when the _____.

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1. Cracked Window Repair Company has realized an increase in sales over the past year during road construction on the interstate. The road construction is expected to end next month. However, it is time for Cracked Window to order replacement windows. It takes three months for the suppliers to ship new windows to Cracked Window. Which method of time series analysis is most appropriate for calculating the window order?

2. If a charter jet for hire logged 20,000 miles in billable trips last month and 45,000 miles in billable trips this month, what is the monthly growth rate?

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About This Quiz & Worksheet

The quiz/worksheet combo is a tool that lets you check your understanding of time series analysis and its applications. Different methods of time series analysis are covered on the quiz.

Quiz & Worksheet Goals

Take the quiz to check your understanding of:

  • Time series analysis method geared towards retailers prepping for a holiday shopping season
  • Calculating growth rate
  • When time series analysis is least beneficial to predict and forecast

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the lesson on time series analysis
  • Information recall - access the knowledge you have gained about calculating growth rate
  • Knowledge application - use your knowledge to answer questions about the different methods for time series analysis

Additional Learning

In order to learn more, access the lesson called Time Series Analysis & Its Applications. Use this lesson to:

  • Define data
  • See how to use time series analysis
  • Review time series analysis examples