1. You are given a time series of sales data with 10 observations. you construct forecasts according to last periods actual level of sales plus the most recent observed change in sales. How many data points will be lost in the forecast process relative to the origional data series?
A-one
B-two
C-three
D-zero
E-none of the above
2) What is most likely to be the major difference between forecasting sales of a private business versus forecasting the demand of a public good supplied by a governmental agency
A-amount of data available
B-underlying economic relationships
C-lack of market determined price data for public goods
D-last of historical data
E-lack of quantative ability by government forecasters