8/9/2020 Weekly Quiz -2 (TSF): Time Series Forecasting - Great Learning

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Weekly Quiz -2 (TSF)

Type : Graded Quiz

Attempts : 1/1

Questions : 7
Time : 20m

Due Date : Aug 02, 11:59 PM

Your Score : 7.00/10

Instructions

Attempt History

Date Attempt Marks

Aug 01, 11:20 PM 1 7 Hide answers

Question No: 1 Incorrect Answer

Marks: 0/2
Box plot can be used to detect outliers from the timeseries data

False Correct Option

True You Selected

Boxplots in its essence is a pictorial representation of the five point summary. And because
Time Series is an ordered set of data points, box plots may not function correctly. For
example, box plot may indicate peak season sales as outliers for Woolen clothes for a
Woolen Clothes company sales data. This is not correct as it may result in the deletion of
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8/9/2020 Weekly Quiz -2 (TSF): Time Series Forecasting - Great Learning

these extreme values which would impact the forecasts adversely and they will not much
that much reliable.

Question No: 2 Correct Answer

Marks: 1/1
Decomposition helps in identifying unusual observations

False

True You Selected

Decomposition results in four plots, viz a viz, the actual data, seasonality, trend and
residuals (also called white noise). Any unusual activity can easily be seen here.

Question No: 3 Correct Answer

Marks: 2/2
Double Exponential is applicable when data has trend but no .................

Decomposition

Irregular movements

Seasonality You Selected

Double exponential smoothing takes into account the trend only. Seasonality and trend
both are captured in the Triple Exponential Smoothing.

Question No: 4 Incorrect Answer

Marks: 0/1
Holt -winters model smooths the level, trend and seasonality

False You Selected

True Correct Option

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8/9/2020 Weekly Quiz -2 (TSF): Time Series Forecasting - Great Learning

Holt Winters Model or Triple exponential smoothing captures the level, trend and
seasonality. The forecasts of this model when the data has trend and seasonality are quite

reliable.

Question No: 5 Correct Answer

Marks: 1/1
The forecast of training data are called as ................

Fitted values You Selected

Unfitted Values

Fitted values are the predictions on the training data. It is here that the fitted values are
compared with the actual observations to check reliability of forecast before making
predictions on test data.

Question No: 6 Correct Answer

Marks: 1/1
For Time series models hold-out sample is randomly chosen from the total sample

False You Selected

True

While holdout sample (Test Data) is randomly picked for data, for a time series data it is not
the correct approach. Time Series data is a chronological and continuous sequence. And
the objective is to obtain reliable forecasts. And forecasting for the future makes sense
while forecasting for random time periods in the past does not. So, it is important that the
recent few observations should form the test/ holdout sample.

Question No: 7 Correct Answer

Marks: 2/2
Performance of forecast method is tested by comparing the forecast values with the test
sample observations

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8/9/2020 Weekly Quiz -2 (TSF): Time Series Forecasting - Great Learning

False

True You Selected

We compare the forecasted values with the actual values and check for reliability/
accuracy of forecast.
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