All of the Following Are True About Time Series Methods

question 25

Multiple Choice

All of the following are true about time series methods except

• A) They discover a pattern in historical data and project it into the future.
• B) They involve the use of expert judgment to develop forecasts.
• C) They assume that the pattern of the past will continue into the future.
• D) Their forecasts are based solely on past values of the variable or past forecast errors.

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Definitions:

Stereotype

Oversimplified and generalized beliefs about a particular group of people or things, often leading to prejudiced attitudes and actions.

Internal

Pertaining to or situated within something; intrinsic, coming from the inside.

Stable

Constant and unchanging; not prone to fluctuations or sudden changes.

External

Pertaining to or located on the outside of something; often refers to influences or factors coming from the environment around an individual or system.