TIME SERIES

ouesnon 2 [1?] {a} Critique the following statement: "Forecasting need not be scientic, our ancestors did well without it, and thev never had problems with diseases, divorces. and crime. but thev survived even without having to learn the hard science that discourage learning time series\". {5] {b} What is the use of seasonal variations 1llvh en developing forecasts? [4} [c] Regarding trend analysis in forecast development (1] Explain the importance of moving averages in forecasting. {4] (i1) Suppose that time series data have been given in time periods months {t}, and you want to develop appropriate forecasts. A forecast model has been developed, and is a seasonal one given as a function of the time period t. Explain how vou will go about developing the actual forecast values. [4}