I Long-Term Forecasts Are Usually from One Year to More

question 35

Multiple Choice

i. Long-term forecasts are usually from one year to more than 10 years into the future.
ii. A forecast is considered necessary in order to have the raw materials, production facilities, and staff available to meet estimated future demands.
Iii) One component of a time series is the secular trend that is the smooth movement of a series over a short period of time, such as a few months or quarters.

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and (ii) are correct statements, but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) All statements are false

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Definitions:

Endorphins

Natural pain-relieving chemicals produced by the brain in response to stress or discomfort.

Nociceptors

Sensory receptors found throughout the body that respond to potentially damaging stimuli by sending signals to the spinal cord and brain, perceived as pain.

Sensory Receptors

Specialized cells or nerve endings that respond to changes in the environment by generating electrical signals.

Hurtful Temperatures

Extreme cold or hot environmental conditions that can cause physical discomfort or harm to living organisms.