A Model or Technique That Uses Past Behavior of a Time-Series

question 53

Multiple Choice

A model or technique that uses past behavior of a time-series variable to predict the future is referred to as

• A) a forecasting model.
• B) an extrapolation model.
• C) a trend model.
• D) all of these.

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Definitions:

Profit Maximizing

Profit maximizing is the process by which a firm determines the price and output level that returns the greatest profit.

Objective Approach

A method of decision-making or evaluation based on factual evidence and without the influence of personal feelings or biases.

Balanced Discussion

A conversation or dialogue that presents multiple perspectives in an unbiased and even-handed manner.

Legal Document

An official paper that records agreements, understandings, rights, or obligations enforceable by law.