Question

1. Which of the following statements about time-series forecasting is true? A) It is always based on the assumption that future demand will be the same as past demand. B) It makes extensive use of the data collected in the qualitative approach. C) It is based on the assumption that the analysis of past demand helps predict future demand. D) Because it accounts for trends, cycles, and seasonal patterns, it is always more powerful than associative forecasting. E) All of the above are true.

Answer 1

The true statement about time-series forecasting is that it is a analysis of past demand that helps predict future demand.

A time-series forecasting refers to a process of analyzing time series data through statistics in other to make predictions and and make decisions.

Hence, the true statement about time-series forecasting is that it is a analysis of past demand that helps predict future demand.

Therefore, the Option C is correct.

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