A forecast is defined as a(n):
a. prediction of future values of a time series.
b. quantitative method used when historical data on the variable of interest are either unavailable or not applicable.
c. set of observations on a variable measured at successive points in time.
d. outcome of a random experiment.
Question 2
True or False The Pareto diagram, also known as the Juran diagram, is a bar chart describing the relative frequencies with which various kinds of defects, or nonconformities, have occurred.
Indicate whether the statement is true or false
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