A forecast is defined as a(n)
A)prediction of future values of a time series.
B)quantitative method used when historical data on the variable of interest are either unavailable or not applicable.
C)set of observations on a variable measured at successive points in time.
D)outcome of a random experiment.

Question

Quizplus · Accepted Answer

A forecast is defined as a prediction of future values of a time series, which means it involves using historical data to project future outcomes. Choices B, C, and D do not accurately describe a forecast.

A Forecast Is Defined as A(n)