Derived Demand Means the Demand for Industrial Products and Services

question 65

Multiple Choice

Derived demand means the demand for industrial products and services is driven by, or derived from, the

• A) NAICS statistical models.
• B) gross national product.
• C) demand for consumer products and services.
• D) demand for industrial products in other categories or markets.
• E) demand for government products and services.

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Definitions:

Absolute Deviation

The absolute difference between each data point in a set and a point of central tendency, often the mean or median.

Autoregressive Model

A statistical model for analyzing time series data that uses the dependent relationship between an observation and a number of lagged observations.

Mortgage Rate

The interest rate charged on a mortgage loan, which can be fixed or variable, determining the amount of interest the borrower pays over the life of the loan.

Seasonal Variation

Fluctuations in data or occurrences that happen at specific times of the year, often influenced by the seasons.