Problem 1: The following data relates to annual revenues of an enterprise in a period from 2001 –

2010:
Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Revenues 150 155 158 (5) 160 165 168 172 170 (6)
(1000$)
Chain base (1) 1.033 1.019 (6) (7) (9) (11) (13) (15) 0.994
relative
Fixed base 1.014 (2) (4) 1.101 (8) (10) (12) (14) 1.149 (17)
relative
(2000=100)

Question 1: The chain base relative of revenue in 2001 (1) is:

A. 1.033
B. 1.069
C. 1.045
D. 1.014
Question 2: The revenue in 2004 (5) is (rounded to the nearest whole number):
A. 157
B. 159
C. 163
D. 175
Question 3: The chain base relative of revenue in 2005 (7) is:
A. 1.101
B. 1.081
C. 1.045
D. 0.982
Question 4: The fixed base relative of revenue in 2010 (17) is:
A. 0.994
B. 1.149
C. 1.142
D. None of the above
Question 5: The average growth rate of revenue over the period 2000 – 2010 is:
A. 1.34%
B. 1.33%
C. 1.55%
 D. 1.25%
Question 6: Assume that the average growth rate of the revenue is relatively constant overtime, using
the average growth rate to estimate revenue in 2012 (rounded to the nearest whole number):
A. 180
B. 174
C. 171
D. 195
Problem 2:
Interest rate
Project
Decline Stable Increase
Office Park 0.5 1.7 4.5
Office building 1.5 1.9 2.5
Warehouse 1.7 1.4 1.0
Mall 0.7 2.4 3.6
Condominiums 3.2 1.5 0.6
Probability 0.5 0.4 0.1

Question 7: What is the optimal decision if the Place – Plus manager is optimistic?
A. Office park
B. Office building
C. Warehouse
D. Mall
Question 8: What is the optimal decision if the Place – Plus manager wishes to minimize the firm’s
maximum regret?
A. Office park
B. Office building
C. Mall
D. Condominiums
Question 9: What is the optimal decision if the Place – Plus manager is pessimistic?
A. Office park
B. Office building
C. Warehouse
D. Mall
Question 10: What is the optimal decision if the Place – Plus manager uses the Expect value approach
given the probability shown in the last row of the table?
 A. Office park
B. Office building
C. Mall
D. Condominiums
Problem 3: The Hillel Sandwich Shop is trying to estimate its profit for the upcoming month. In order
to do this, it must forecast future sandwich sales. Below are the number of sandwiches sold each day of
the five-day work week for the past four weeks (week 4 is the most recent week)
Week
Day
1 2 3 4
Monday 140 142 144 149
Tuesday 156 155 160 162
Wednesday 172 178 176 175
Thursday 144 146 148 151
Friday 112 116 118 122

Question 11: Using five-day moving average, forecast the number of sandwiches that will be sold on
Wednesday, week 2.
A. 145
B. 150.8
C. 147.4
D. 151.8
Question 12: Using five-day moving average, forecast the number of sandwiches that will be sold on
Monday, week 3.
A. 145
B. 150.8
C. 147.4
D. 151.8
Question 13: Using exponential smoothing method with α = 0.3, forecast the number of sandwiches
that will be sold on Tuesday, week 4
A. 145
B. 144.7
C. 149
D. 151.8
Question 14: Using exponential smoothing method with α = 0.3, forecast the number of sandwiches
that will be sold on Friday, week 3
 A. 153.6
B. 150.8
C. 149
D. 151.8
Use a multiple regression model to develop an equation to account for trend and seasonal effects in the
data. Given the values of dummy variables: Mon = 1 if Monday, 0 otherwise; Tues = 1 is Tuesday, 0
otherwise; Wed = 1 if Wednesday, 0 otherwise; Thurs = 1 if Thursday, 0 otherwise.
Question 15: Forecast the number of sandwiches that will be sold for Tuesday, week 5
A. 149.45
B. 163.95
C. 180.95
D. 152.95
Question 16: Forecast the number of sandwiches that will be sold for Thursday, week 5
A. 149.45
B. 163.95
C. 180.95
D. 152.95
Question 17: The value of the test statistic used to test the overall significance of the model is:
A. 462.346
B. 6.355
C. 21.973
D. 1487.432
Problem 4: The table below shows the export price and export quantity of 4 items at the base time and
current time period:
Export index
Items Ptqt (USD) Pt (USD/ton) Q0 (tons)
relative (ipq) (%)
Pepper 38808 1078 30 110%
Sugar 29670 989 25 115%
Coffee 51408 1071 45 105%
Rice 85008 960 80 92%

Question 18: The export price (USD/ton) of Pepper at base time period is:
A. 1176
B. 1032
C. 1088
 D. 1155
Question 19: The export value (USD) of Sugar at base time period is:
A. 35280
B. 25800
C. 48960
D. 92400
Question 20: The weighted average of relatives price index of these 4 items is (all the weighting
components are fixed at the base time period)
A. 110%
B. 90.14%
C. 101.2%
D. None of the above
Problem 5: Medical research has noted that adolescent females are much more likely to deliver
low-birth-weight babies than are adults females. Because low-birth-weight babies have higher mortality
rate, a number of studies have examined the relationship between birth weight and mother’s age for
babies born to young mothers. One such study is described below:
Maternal age (in Birth weight of baby Maternal age (in Birth weight of baby
years) – (x) (in grams) – (y) years) – (x) (in grams) – (y)
15 2289 19 3327
17 3393 17 2970
18 3271 16 2535
15 2648 18 3138
16 2897 19 3573

Question 21: The linear regression model describing the relationship between the two variables is:
^
A. 𝑦𝑡 =− 1163. 45 + 245. 15𝑥
^
B. 𝑦𝑡 = 1163. 45 − 245. 15𝑥
^
C. 𝑦𝑡 = 245. 15 − 1163. 45𝑥
^
D. 𝑦𝑡 =− 245. 15 + 1163. 45𝑥

Question 23: The hypotheses used to test the significance of the population slope is:
A. H0: β1 ≥ 0 , H1: β1 ≠ 0

B. H0: β1 = 0 , H1: β1 ≠ 0
 C. H0: β1 < 0 , H1: β1 ≠ 0

D. None of the above

Question 24: With a significance level of 5% what is the conclusion of the test in question 10:
A. We have enough evidence to believe that the population slope is different from 0.
B. We don’t have enough evidence to believe that the population slope is different from 0.
C. We have enough evidence to believe that the population slope is not different from 0.
D. None of the above
Question 25: Estimate the birth weight of baby when the maternal age is 19
A. 3214
B. 2970
C. 3494.4
D. 3005