Question: Briefly answer the questions. 1. Explain why demand forecasting should be an extrapolation, not interpolation . 2. Note that the revenue is not the same

Briefly answer the questions.

1. Explain why demand forecasting should be an "extrapolation", not "interpolation" .

2. Note that the revenue is not the same as demand. Usually, the amount of revenue in general is smaller than that of real demand. Explain why.

3. In the time-series regression analysis, there are three cases in practice, where lagged variables must be incorporated. Please explain them.

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