When Selecting a Forecasting Method,which of the Following Is True

question 45

Multiple Choice

When selecting a forecasting method,which of the following is true?

• A) The method with the best fit to historical data (least error) is the best predictive model.
• B) The existence of complicated data patterns will affect the method chosen.
• C) Stable data patterns over time are best suited to qualitative methods.
• D) Time series methods use qualitative data to smooth the forecasts.

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Definitions:

Titanium

A strong, lightweight metal with high corrosion resistance, used in aerospace, medical implants, and many other applications.

Thallium

A soft, gray post-transition metal that is not freely found in nature, known for its toxicity and used in electronic devices.

Atoms

The basic units of matter and the defining structure of elements.

Compound

A compound is a substance formed when two or more chemical elements are chemically bonded together, resulting in properties different from the constituent elements.