A simple forecasting model, which assumes that the most recent time period data is the best predictor for the future period, is the simple...

1. A simple forecasting model, which assumes that the most recent time period data is the best predictor for the future period, is the simple exponential smoothing model. (Points : 8) True False 2. A simple linear regression model in which time is used as the explanatory variable is often used to estimate the trend component of a time-series data. (Points : 8) True False 3. A descriptive measure that is useful in allowing comparisons of data over time is the index number. (Points : 8) True False 4. What is the value of the mean absolute deviation (MAD) for the forecasting technique whose forecasts for four past periods and the subsequent actual values are given below? 142146(Points : 8) 1.252.500.506.755.255. What is the forecast for the next period using an exponential smoothing technique (alpha = 0.5) if the actual value last period was 170 and the forecast was 180? (Points : 8) 170175180185850