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QBA Exam 2
Exam 2
9
Business
Undergraduate 2
03/01/2010

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Term
Index Number
Definition
Measures the relative change in price, quantity, value, or some other item of intrest from one time period to another
Term
Simple Index Number
Definition
measures the relative change in just one variable
Term
Value Index
Definition
Measures the change in both the price and quantities involved
Term
CPI
Definition
describes the changes in prices from one period to another for a "market basket" of goods and services
Term
Time Series
Definition
A collection of data recorded over a period of time.
An analysis of history.
Usually assumes past pattern to continue into the future
Term
Secular Trend
Definition
the smooth long term direction of a time series
Term
Cyclical Variation
Definition
The rise and fall of a time series over period longer than one year
Term
Seasonal Variation
Definition
Patterns of change in a time series within a year, which tends to repeat each year
Term
Irregular Variation
Definition
Episodic- Unpredictable but identifiable
Residual- also called chance fluctuation and unidentidiable
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