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) One component of a time series is the secular trend that is the smooth movement of a series over a short period of time, such as a few months or quarters.
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) One component of a time series is the secular trend that is the smooth movement of a series over a short period of time, such as a few months or quarters.
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

Statement (iii) is incorrect because a secular trend refers to the smooth movement of a series over a long period of time, not a short period.

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