Answer the following statement(s) true (T) or false (F)
1. Smoothing methods are more appropriate for a stable time series than when significant trend or seasonal patterns are present.
2. The exponential smoothing forecast for any period is a weighted average of all the previous actual values for the time series.
3. The mean squared error is obtained by computing the average of the squared forecast errors.
4. If a time series has a significant trend pattern, then one should not use a moving average to forecast.
5. For a time series with relatively little random variability, we should use larger values of the smoothing constant to provide the advantage of allowing the forecasts to react more quickly to changing conditions.
1. TRUE
2. TRUE
3. TRUE
4. TRUE
5. TRUE
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