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1) Distinguish between Time Series models and Causal models. The different types of control charts and...

1) Distinguish between Time Series models and Causal models. The different types of control charts and reasons for their use. Provide a working example of each in the auto manufacturing industry.

2) Discuss each of the basic patterns mentioned by the authors for Time Series Models. Provide an example of each.

3) Distinguish between Simple Moving Average and Weighted Moving Average. What are their benefits and how are these applied in the real world?

4) Distinguish between low and high α values and what they represent in Exponential Smoothing.

5) Distinguish between linear regression and correlation. Provide a working example of each in business.

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milcah answered 1 month ago
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