Answer the following statement(s) true (T) or false (F)
1. Time series data can exhibit seasonal patterns of less than one month in duration.
2. When using a moving average of order k to forecast, a small value for k is preferred if only the most recent values of the time series are considered relevant.
3. In situations where you need to compare forecasting methods for different time periods, relative measures such as mean absolute error (MAE) are preferred.
4. In order to use moving averages to forecast a time series, the first step is to select the order k, the number of time series values to be included in the moving average.
5. When forecasting, if a greater number of past values are considered relevant, then we generally opt for a larger value of k.
1. TRUE
2. TRUE
3. FALSE
4. TRUE
5. TRUE
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