Question 1: (10x3=30 points) Write either True or False in the beginning of each statement below. 1. ............Aggregate forecasts are usually more accurate. 2......... The Delphi Method is one of the objective forecasting methods. 3. ............ In regression analysis, error terms are normally distributed with mean 0 and variance e? 4. ............Wavelike variations lasting more than a year, (e.g. economic recessions, etc.) can be considered as one example of seasonality. 5. ............Residual variations after all other behaviors are accounted for, is called as irregular variations. 6. ............A bias occurs when the average value of a forecast error tends to be positive or negative (i.e., deviation from truth). 7. ............ Two common methods for forecasting stationary series are moving averages and double exponential smoothing. 8. One of the disadvantages of both exponential smoothing and moving average is that they lag behind the trend. 9. ............One can achieve the same distribution of forecast error in exponential smoothing and moving average by setting a = 2/(N+1). 10. ............MAPE is better than both MAD and MSE in terms of measuring the qualities of forecasts