Which of the following is true with regards to the concept of Regression Analysis?

• a forecasting procedure that uses the least squares approach
• it enables predictive analysis based on the straight-line extrapolation
• can have one or more independent variables
• all of these
• none of these

Bias is a technique for determining the accuracy of a forecasting model by measuring the average error and its direction:

• True
• False

Which of the following is true with regards to the concept of Causal Models?

• they are approximations of actual systems using either a physical or a mathematical representation
• they incorporate factors that influence what is being forecasted
• they are models that show a cause-effect relationship between variables
• all of these
• none of these

Which of following is true with regards to the concept of the Jury of Executive Opinion? (Multiple Answers)

• this method captures the opinions of a small group of high-level managers
• it is a superior forecasting technique
• it can lead to "group think"
• all of these
• none of these

Forecasting period is the number of future periods covered by a forecast. It is sometimes referred to as forecast lead time:

• True
• False