False, Time Series methods base forecasts only on past variables and not on recent values.
Forecasting in time series is done when we make scientific predictions based on historical data. Time series involves building models through the analysis of historical data and using them to make observations that help in decision-making. The methods of time series refer to the different ways to measure the timed values.
There are four different components of the methods of time series. The first one is a secular trend which helps to describe the movement along the term. The second one is seasonal variations that help to show seasonal changes. The third one is cyclical fluctuations that correspond to periodical changes. the last component is irregular variations that happen at random.
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The answer to the statement is False.
Answer: d. Physical depreciation
Explanation:
The allowance of the use of the second hand materials showed the materials met the standard required but this is subjective as the material life span has been shortened due to existing usage of the material.
<span>Economic planning is a resource allocation mechanism that is contrasted with the market mechanism. As a coordinating mechanism for socialist economics, economic planning substitutes factor markets and is defined as a direct allocation of resources. This is contrasted with the indirect allocation mechanism of a market economy. There are various types that economic planning procedures and forms planning can take.</span>
