ECONOMETRICS

UES'I'IDN 1 [21] Ila-[ARES] l. lCritique the following statement: \"Forecasting need not he scientic= our ancestors did well without it. and the}; never had problems with diseases, divorces, and crime. but they survived even without having to learn the hard science that discourage learning time series"- {5) 2. Explain hovtr you'd decide if a time series is a trend model= seasonality or cyclical model using decomposition methods. {5) 3. Wa_ e-s of student in a tem I.or oh 111 South African rands follows in the next table. ___MI n Would you say this is time series data? Explain. If you said it is not time series data= convert it to time series data. {8)