TABLE 16-1 The number of cases of chardonnay wine sold by a Paso Robles wineryin
ID: 2916447 • Letter: T
Question
TABLE 16-1 The number of cases of chardonnay wine sold by a Paso Robles wineryin an 8-year period follows: Referring to Table 16-1, does there appear to be a relationshipbetween the year and the number of cases of wine sold? A)Yes, there appears to be a slight positive relationship between theyear and the number of cases of wine sold by thevintner. B)No, there appears to be no relationship between the year and thenumber of cases of wine sold by the vintner. C)Yes, there appears to be a negative nonlinear relationship betweenthe year and the number of cases of wine sold by thevintner. D)Yes, there appears to be a slight negative linear relationshipbetween the year and the number of cases of wine sold by thevintner. 17. After estimating a trend model for annual time-series data,you obtain the following residual plot against time: The problem with your model is that A)the irregular component has not been accounted for. B)the trend component has not been accounted for. C)the cyclical component has not been accounted for. D)the seasonal component has not been accountedfor, 18. The cyclical component of a time series A)represents periodic fluctuations which usually occur in 2 or moreyears. B)is obtained by adjusting for calendar variation. C)is obtained by adding up the seasonal indexes. D)represents periodic fluctuations which reoccur within 1year.Explanation / Answer
16) A) Yes, there appears to be a slight positive relationship between theyear and the number of cases of wine sold by thevintner. 17) A) the irregular component has not been accounted for. 18) A) represents periodic fluctuations which usually occur in 2 or moreyears.
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