Smoothing a time series of observations
A) is a form of statistical cheating.
B) is used to reveal an underlying pattern in the data.
C) renders the resultant forecast unusable.
D) allows statisticians to use less data than would otherwise be required.
Question 2
Suppose the quantity of x is measured on the horizontal axis. If the price consumption curve is vertical when the price of x changes, then the demand for x is
A) perfectly elastic.
B) perfectly inelastic.
C) unit elastic.
D) There is not enough information to determine the price elasticity of demand for x.
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