Time-series forecasting models:
a. are useful whenever changes occur rapidly and wildly
b. are more effective in making long-run forecasts than short-run forecasts
c. are based solely on historical observations of the values of the variable being forecasted
d. attempt to explain the underlying causal relationships which produce the observed outcome
e. none of the above
c
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Refer to the scenario above. If the cost of advertising is negligible, what will the outcome of this game be?
A) Company A will advertise its products while Company B will not advertise. B) Company B will advertise while Company A will not advertise. C) Both the companies will advertise their products. D) Neither of the companies will advertise its products.
Explain why correlation does not always imply causation. Does causation always imply positive correlation? Explain your answer
What will be an ideal response?