In many time-series applications,the dependent variable in a time period is often related to the value taken by this variable in the previous time period.

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This statement is true. The concept of autocorrelation assumes a relationship between a variable and its lagged values, indicating that the past values of a variable can affect its current value. This is observed in many time-series applications such as stock prices, weather patterns, and economic variables.

In Many Time-Series Applications,the Dependent Variable in a Time Period