What is meant by time-series data

Reference no: EM13983167

1. What is meant by time-series data? Give an example.

2. Explain the difference between time-series data and cross-sectional data. Are these two types of data sets mutually exclusive? What do they have in common? How do they differ?

3. What are the differences between quantitative and qualitative forecasting techniques? Under what conditions is it appropriate to use a quantitative technique?

4. Provide an example of a business decision that requires (1) a short-term forecast, (2) a medium-term forecast, and (3) a long-term forecast.

Reference no: EM13983167

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