Question

Q4: Explain what do you understand by Time Series. Why is Time Series considered to be an

effective tool of forecasting?​

Answer 1

Answer:

The historical data is representative of the conditions expected in the future. Time-series models are adequate forecasting tools if demand has shown a consistent pattern in the past that is expected to recur in the future. For example, new homebuilders in US may see variation in sales from month to month.

Answer 2

Answer:

hi

pls mark as brainliest

and pls thank

Step-by-step explanation:

here

The historical data is representative of the conditions expected in the future. Time-series models are adequate forecasting tools if demand has shown a consistent pattern in the past that is expected to recur in the future.