Question requires thinking beyond what was stated in class or lab. Which of the following statements is true concerning forecasting in econometrics?

Group of answer choices

Composite forecasts will always be better than foreasts based on only one model.

In$-$sample forecasting ability is a poor test of model adequacy

Forecasts can only be made for time$-$series data

Mis$-$specified models are certain to produce inaccurate forecasts

Structural $($associative models$)$ forecasts are simpler to produce than those from time series models