i. Long-term forecasts are usually from one year to more than 10 years into the future.
ii. A forecast is considered necessary in order to have the raw materials, production facilities, and staff available to meet estimated future demands.
Iii) Many business and economic time series have a recurring seasonal pattern.
A) (i), (ii) and (iii) are all correct statements
B) (i) and (ii) are correct statements, but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) All statements are false

Question

i. Long-term forecasts are usually from one year to more than 10 years into the future. 
ii. A forecast is considered necessary in order to have the raw materials, production facilities, and staff available to meet estimated future demands.
Iii) Many business and economic time series have a recurring seasonal pattern.
A) (i), (ii) and (iii) are all correct statements
B) (i) and (ii) are correct statements, but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) All statements are false

Quizplus · Accepted Answer

Long-term forecasts typically cover a period from one year to more than 10 years. Forecasting is essential for planning resources to meet future demands. Many time series exhibit seasonal patterns.

I Long-Term Forecasts Are Usually from One Year to More