Answer the following statement(s) true (T) or false (F)
1. If the random variability in a time series is great, a small value of the smoothing constant is preferred so that we do not overreact and adjust our forecasts too quickly.
2. With fewer periods in a moving average, it will take longer to adjust to a new level of data values.
3. Qualitative forecasting methods are appropriate when historical data on the variable being forecast are either unavailable or not applicable.
4. A sequence of observations on a variable measured at successive points in time or over successive periods of time is known as a time series.
5. Any recurring sequence of points above and below the trend line lasting less than one year can be attributed to the cyclical component of the time series.
1. TRUE
2. FALSE
3. TRUE
4. TRUE
5. FALSE
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