You were recently hirnd try ZYo Carporatian to help oversee its expansion into the US. market. Mit Jason Enomoto, the CEO. wonts to hire a foreign exchange forecasting company. Arson has asked you to evaluate three different companies, and he has obtained the folowing information on theit past pertormance for you. Out of a total of 700 farecasts for the JPY/USD exchange rate. the companies reported the nurnter af times they coerectly forecant appececations and ilepreciations There is a total of 450 times Japanese Ven appreciations (down periods) and 250 times fapanese Yea depreciations (up periodsi in the sample. Which of the following statements isfare correct? i. Fased on the total number of correct directional forecasts. BHC Exchange Advisors has the stronigest forecasting ability. i. Japanese Yen over this period was tetatively strong and appreciations fidown forecasts for the JPYiuSD exchange rate) dominate. Hence, forecasts in the dominating "down" periods may be more useful than forecasts in the "up" periodt. iii. "Directional" forecasting ability in the foreign exchange imarket may not be very useful. it would be more useful to know whether the foreciating frrms were on the correct side of the forward fate. and is only in and inisentr None of the sivtin obtions is corret iand iilionly