What time series component was exemplified during the 1980s when the World

What time series component was exemplified during the

This preview shows page 2 - 4 out of 56 pages.

12.What time series component was exemplified during the 1980's when the World economy enjoyed a period of prosperity? A. IrregularB. CyclicalC. TrendD. SeasonalE. Episodic 13.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. 14.i. A time series is a collection of data recorded over a period of time, usually monthly, quarterly, or yearly.ii. Episodic and residual variations can be projected into the future.iii. A forecast is considered necessary in order to have the raw materials, production facilities, and staff available to meet estimated future demands.
Background image
15.i. Many business and economic time series have a recurring seasonal pattern.ii. One component of a time series is cyclical variation. An example of cyclical variation is the business cycle that consists of periods of prosperity followed by periods of recession, depression, and recovery.iii. Episodic and residual variations can be projected into the future. 16.i. 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.ii. Many business and economic time series have a recurring seasonal pattern.iii. One component of a time series is cyclical variation. An example of cyclical variation is the business cycle that consists of periods of prosperity followed by periods of recession, depression, and recovery. A. (i), (ii) and (iii) are all correct statementsB. (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
Background image
Image of page 4

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture