Question: Briefly answer the questions 1. What are the major differences between Static and Dynamic Analyses? 2. Suppose that stepwise regression is used in forecasting. Briefly

Briefly answer the questions

1. What are the major differences between Static and Dynamic Analyses?

2. Suppose that stepwise regression is used in forecasting. Briefly discuss pros and cons in this method.

3. It is unavoidable to have errors between forecast and the demand realized. If an appropriate scientific forecasting model is used, the errors will have three properties. Briefly explain them.

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