Question 1: An undergraduate business student is taking one of the two general statistics courses required for all business majors. They have overheard you talking with friends about a problem in time-series regression. The undergraduate is very confused about autocorrelation, specifically the difference between positive and negative autocorrelation. What examples in real life would you give them for each circumstance to help them understand?

Question 2:

An undergraduate business student is taking one of the two general statistics courses required for all business majors. They have overheard you talking with friends about a problem in time-series regression. The undergraduate is very confused about the difference between a secular trend in data and a seasonal trend. What examples in real life would you give them circumstances to help them understand?

Question 3:

An undergraduate business student is taking one of the two general statistics courses required for all business majors. They have overheard you talking with friends about a problem in forecasting. The undergraduate is very confused about the difference between MAD and MAPE. How would you concisely explain the difference between the 2 measures?