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    Forecasting Model Approaches

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    In selecting an appropriate forecasting model, the following approaches are suggested:

    a. perform a residual analysis.
    b. measure the size of the forecasting error.
    c. use the principle of parsimony.
    d. all of the above.

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    Solution Preview

    Correct answer is (d). all of the above.

    For choosing an appropriate forecasting model following ...

    Solution Summary

    The solution selects an appropriate forecasting model for a specific approach.