Question: Time series forecasting with ARIMA models often involves making predictions for multiple steps ahead. How can ARIMA models be extended to handle multi-step forecasting? [1.5

Time series forecasting with ARIMA models often involves making predictions for multiple steps ahead. How can ARIMA models be extended to handle multi-step forecasting? [1.5 mark] Discuss the strategies, such as recursive forecasting or direct forecasting, and the challenges associated with forecasting multiple future time steps using ARIMA. [1.5 mark]

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