Question: QUESTION 1 Which statement about forecast accuracy is true ? A manager must be careful not to overfit past data. The ultimate test of forecasting

QUESTION 1

Which statement about forecast accuracy is true?

A manager must be careful not to "overfit" past data.
The ultimate test of forecasting power is how well a model fits past data.
The ultimate test of forecasting power is how a model fits holdout samples.
The best technique in explaining past data is the best technique to predict the future.

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