Question $1$

In statistical forecasting, historical data is the only factor to consider when selecting a forecasting method.

True

False

Question $2$

You can always find a set of weights that would make the MSE smaller for a weighted moving average than for an unweighted moving average.

True

False

Question $3$

When comparing forecasting methods for different time periods, relative measures such as mean absolute error $($MAE$)$ are preferred.

True

False

Question $4$

The EOQ formula is best applied in situations where demand, ordering, and holding costs remain constant over time.

True

False

Question $5$

Inventory position and inventory on hand are terms that we can use interchangeably.

True

False