A Naive Forecast Is a Time-Series Method Whereby the Forecast

question 56

True/False

A naive forecast is a time-series method whereby the forecast for the next period equals the demand for the current period.

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Definitions:

Probability

A numerical expression, ranging between 0 and 1, used to indicate how probable it is that a given event will happen, where 0 means the event is impossible, and 1 means the event is certain to happen.

Independent

A term describing variables that are not affected by other variables in a study or experiment.

Normal Model

A type of statistical distribution that is symmetric and has a bell-shaped curve, where most occurrences take place at the center of the distribution.

HIV Virus

The Human Immunodeficiency Virus (HIV) is a virus that attacks the immune system, reducing its ability to fight off other diseases and infections.