Question 1

One disadvantage of time-series forecasting is that it requires knowledge of a future cause in order to predict change in an independent variable.

Accepted Answer

Time-series forecasting is based on historical data and trends, and does not require knowledge of future causes in order to make predictions. However, it may be limited in its accuracy if future events or changes in external factors are not accounted for in the historical data.

Question 2

Some computer models for forecasting include factors such as changing habits and needs.

Accepted Answer

Some computer models for forecasting use artificial intelligence and machine learning techniques that take into account changes in consumer habits, preferences, and needs to make accurate predictions.

Question 3

The most basic assumption of a time series model for forecasting is that ________.

Accepted Answer

The answer of The most basic assumption of a time...

Quiz 14: Time-Series Forecasting and Index Numbers

One disadvantage of time-series forecasting is that it requires knowledge of a future cause in order to predict change in an independent variable.

Some computer models for forecasting include factors such as changing habits and needs.

The most basic assumption of a time series model for forecasting is that ________.