I a Time Series Is a Collection of Data Recorded

question 34

Multiple Choice

i. A time series is a collection of data recorded over a period of time, usually monthly, quarterly, or yearly.
Ii) Long-term forecasts are usually from one year to more than 10 years into the future.
Iii) A forecast is considered necessary in order to have the raw materials, production facilities, and staff available to meet estimated future demands.

• 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

Understand the criteria used to evaluate empirical arguments, including the tests of relevance, truthfulness of the premises, and logical strength.

Recognize the role of statistical analysis and scientific research design in empirical reasoning.

Appreciate the responsibilities of scientific investigators in analyzing data, critiquing findings, and formulating hypotheses.

Understand the process and importance of empirical reasoning in scientific inquiry.

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