I a Time Series Is a Collection of Data Recorded

question 101

Multiple Choice

i. A time series is a collection of data recorded over a period of time, usually monthly, quarterly, or
Yearly.
ii. Episodic and residual variations can be projected 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) (i), (ii), and (iii) are all false statements.

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Definitions:

Trade Deficit

A situation where a country's imports of goods and services exceed its exports, leading to more money flowing out than coming in.

Defense Equipment

Military and defense-related hardware and technology designed for use by the armed forces and security personnel.

Capital Equipment

Capital equipment comprises the long-term assets used in the production of goods and services, such as machinery, buildings, and vehicles, essential for business operations.

Food Items

are consumable products intended for human nutrition, including fruits, vegetables, meats, grains, and dairy products.