A Predictive Model Simply Examines What Has Happened in the Past

question 18

True/False

A predictive model simply examines what has happened in the past and predicts the future.

---

Definitions:

Absolute Advantage

The ability of a country or entity to produce a good more efficiently (using fewer resources) than another country or entity.

Specializing

The process of focusing on and becoming expert in a particular subject or skill.

Trading

The action of buying, selling, or exchanging goods and services between people or organizations.

Specialized

Having a focus or expertise in a specific area of activity, knowledge, or production, often leading to increased efficiency.