The term trend is synonymous with the term fashion

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1. In time series, the term “trend” is synonymous with the term “fashion.” True / False

2. In time series analysis, the random component increases the accuracy of a forecast. True / False

3. Companies like TORO, manufacture lawn-mowers as well as snow-blowers to balance their annual sales. These companies are responding to the seasonal component of a time series. True / False

4. In time series, the trend refers to long-term, gradual movement in time series. True / False

5. In economics, the law of demand states that, as the price of a good X increases, the quantity of that good demanded, decreases; – ceteris paribus. This is an example of a direct relationship. True / False

6. The law of supply state that as the price of good Y increases, the quantity of that good demanded increases, holding other things constant. This is an example of an inverse relationship. True / False

Reference no: EM132261285

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