1. Reliability and accuracy are two different ways of evaluating forecast models

Question

1. Reliability and accuracy are two different ways of evaluating forecast models.

Question 24 options:

true

False

2. In decomposition are cycle factors necessary to derive a good time series forecast for most business data?

Question 25 options:

a)

b)

c)

d)

2. In decomposition are cycle factors necessary to derive a good time series forecast for most business data?

Question 25 options:

a)

No, since the trend of business data serial is all that is required.

b)

No, since seasonality is accounted for with seasonally adjusted data.

c)

Yes. Cycle factors alone can be used to derieve the best time series forecast.

d)

Yes. Cycle factors are used to adjust the trend and seasonal forecast values for business cycles.

Explanation / Answer

1. It is true that the reliability and accuracy are two different ways of evaluating forecast models.

2. Yes. Cycle factors are used to adjust the trend and seasonal forecast values for business cycles. So the correct option is D.

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