1.All of the following are true about time series methods except?

A.Their forecasts are based solely on past values of the variable or past forecast errors.

B. They assume that the pattern of the past will continue into the future.

C. They discover a pattern in historical data and project it into the future.

D.They involve the use of expert judgment to develop forecasts.

2.To select a strategy in a two-person, zero-sum game, Player A follows a ______ procedure and Player B follows a ______ procedure.

A. maximax, minimax

B. maximax, maximax

C. maximax, minimin

D. maximin, minimax

3.All of the following are true about time series methods except

A.Their forecasts are based solely on past values of the variable or past forecast errors.

B.They assume that the pattern of the past will continue into the future.

C.They discover a pattern in historical data and project it into the future.

D.They involve the use of expert judgment to develop forecasts.

4.For a game with an optimal pure strategy, which of the following statements is false?

A.The maximin equals the minimax.

B.The value of the game cannot be improved by either player changing strategies.

C.A saddle point exists.

D.Dominated strategies cannot exist.