What Type of Forecasting Is Based Entirely on the Past

question 112

Multiple Choice

What type of forecasting is based entirely on the past and present values of a variable?

• A) Economic forecasting
• B) Time-series forecasting
• C) Casual forecasting
• D) Qualitative forecasting

---

Definitions:

Variance

A measure of the dispersion of a set of data points in a dataset, indicating how far each data point lies from the mean.

Variability

Refers to the extent to which data points in a statistical distribution or data set diverge from the average value.

Range

The difference between the highest and lowest values in a data set, showing the spread or dispersion of the data points.

Subtract

To subtract means to take away one quantity from another, resulting in the difference between the two values.