STA621 Assignment 1 Solution and Discussion


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    Assignment No.1 (Course STA 621)
    Fall 2019 (Total Marks 20)

    Deadline
    Your Assignment must be uploaded/ submitted before or on
    17th November, 2019, Time 23:59
    (STUDENTS ARE STRICTLY DIRECTED TO SUBMIT THEIR ASSIGNMENT BEFORE OR BY DUE DATE. NO ASSIGNMNENT AFTER DUE DATE WILL BE ACCEPTED VIA E.MAIL).
    Rules for Marking
    It should be clear that your Assignment will not get any credit IF:
    • The Assignment submitted, via email, after due date.
    • The submitted Assignment is not found as MS Word document file.
    • There will be unnecessary, extra or irrelevant material.
    • The Statistical notations/symbols are not well-written i.e., without using MathType software.
    • The Assignment will be copied from handouts, internet or from any other student’s file. Copied material (from handouts, any book or by any website) will be awarded ZERO MARKS. It is PLAGIARISM and an Academic Crime.
    • The medium of the course is English. Assignment in Urdu or Roman languages will not be accepted.
    • Assignment means Comprehensive yet precise accurate details about the given topic quoting different sources (books/articles/websites etc.). Do not rely only on handouts. You can take data/information from different authentic sources (like books, magazines, website etc.) BUT express/organize all the collected material in YOUR OWN WORDS. Only then you will get good marks.

    Objective(s) of this Assignment:

    The assignment is being uploaded to build up the concepts of Time Series.

    Assignment # 1
    Question 1: Marks: 5 +5=10
    Part a
    Why we calculate
    i. Mean Percentage Error
    ii. Mean Absolute Percentage Error

    Part b
    The following table shows the production of silver utensils (in thousands) at a certain factory in Islamabad.

    Year 1970 1971 1972 1973 1974 1975 1976 1977
    Utensils(000) 170.0 154.87 156.5 158.9 140.3 154.2 160.7 178.3

    Calculate 3 year and 5 year single moving averages for the above time series data.

    Question 2: Marks: 2x5 =10
    The customer price index for medical care (medical cost) are given in the following table for the years 1980 to 1987.

    Year t Production Xi Forecasted Fi
    1980 106.0 107.09
    1981 111.1 111.47
    1982 117.2 115.85
    1983 121.3 120.23
    1984 125.2 124.61
    1985 128.0 128.99
    1986 132.6 133.37
    1987 138.0 137.75
    Total 979.4 979.36

    Calculate

    1. Mean error
    2. Mean Absolute Error
    3. Sum of Squared Error
    4. Mean squared error
    5. Standard Deviation of Error


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