Asked by
ARADHYA MISHRA
on Oct 31, 2024
Verified
For a given product demand, the time series trend equation is 53 - 4 X. The negative sign on the slope of the equation
A) is a mathematical impossibility.
B) is an indication that the forecast is biased, with forecast values lower than actual values.
C) is an indication that product demand is declining.
D) implies that the coefficient of determination will also be negative.
E) implies that the cumulative error will be negative.
Time Series Trend Equation
A mathematical formula that models the underlying trend of a time series data set, often used for forecasting future values.
Negative Slope
a term describing a line or curve on a graph that displays a decrease in the y-value as the x-value increases, indicative of an inverse relationship.
- Apprehend the range of forecasting techniques and their dedicated applications.
Verified Answer
YR
Learning Objectives
- Apprehend the range of forecasting techniques and their dedicated applications.
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