Time-series models ________.
A)assume that whatever forces have influenced sales in the recent past will continue into the near future
B)assume that forecasts are seldom developed by extrapolating historical data into the future
C)include independent variables like,demand conditions and the current economy state that help in forecasting
D)are also known as judgmental forecasting models

Question

Quizplus · Accepted Answer

Time-series models assume that the patterns and trends observed in the historical data will continue into the near future. These models do not include independent variables like demand conditions or the current economy state, but rather focus solely on the past patterns of the variable being forecasted. Judgmental forecasting models, on the other hand, are based on expert opinion or subjective inputs and are not necessarily time-series models. Therefore, option A is the best choice as it accurately describes the characteristics of time-series models.

Time-Series Models ________