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 correct answer is C. Parts fabricator in an automobile factory.
Explanation
On-the-job training is possible and appropriate for jobs that are not too complex. Also, this is only for jobs that are not related to critical issues as medicine/health or financial services. According to this, a parts fabricator can receive on-the-job training because this is not a very complex job, and a mistake in this position while training does not lead to a critical consequence. So, the correct answer is C. Parts fabricator in an automobile factory.
