What are forecasts?
A) Predictions made on the basis of time series information
B) Time-stamped information collected at a particular frequency
C) Reveals the degree to which variables are related
D) All of these choices are correct.

Question

Quizplus · Accepted Answer

Forecasts are predictions made on the basis of time series information. Time-stamped information collected at a particular frequency (choice B) refers to time series data, which is used to make forecasts. The degree to which variables are related (choice C) refers to correlation, which can be used in forecasting, but is not the definition of forecasts themselves. Therefore, choice A is the best answer.

What Are Forecasts