When Forecasting, Analysts Must Observe Environmental Changes to Determine If

question 1

True/False

When forecasting, analysts must observe environmental changes to determine if an important trend is beginning to emerge.

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Definitions:

Operational Definition

A statement of the procedures or ways in which a research concept is measured and turned into a variable.

Inferential Statistics

A branch of statistics that allows us to infer trends about a population based on samples from that population.

Hypothesis

A proposed explanation for a phenomenon, intended to be tested through experimentation or observation.

Scientific Theory

A well-substantiated explanation of some aspect of the natural world, based on a body of facts that have been repeatedly confirmed through observation and experimentation.