Bev Has One Daughter and Three Grandchildren

question 103

True/False

Bev has one daughter and three grandchildren.Bev owns approximately $6 million of assets primarily composed of a very valuable parcel of real estate and a savings account of $500,000.Bev can gift $56,000 in total in 2017 to her family members without creating taxable gifts.

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Definitions:

Six-month Moving Average

A method of smoothing data by calculating the average of six consecutive months' worth of data, continuously updated month by month.

Mean Absolute Deviation

A statistical measure of the average absolute deviations of a set of values from their mean, indicating variability within the dataset.

Forecast Error

The difference between the actual outcomes and the predictions made by forecasting models.

Exponential Smoothing

A time series forecasting method for smoothing data points by giving more weight to recent observations while exponentially decreasing the weights for older observations.