Periodic increases or decreases that occur at the same time each year is A. þeasonality B. Cyclical variation C. Irregularity D. Trend A time-series technique that weights recent data more heavily than historical data. A. Moving Average B. Seasonal decomposition C. Exponential smoothing D. Linear forecasting What is the first question that should be asked when choosing a forecasting tool? A. Is the trend linear or nonlinear? B. Is the seasonality present in data? C. Is the exponential smoothing appropriate? D. Is there a trend in the data?

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Permutations and Combinations

If there are 5 dishes, they can be relished in any order at a time. In permutation, it should be in a particular order. In combination, the order does not matter. Take 3 letters a, b, and c. The possible ways of pairing any two letters are ab, bc, ac, ba, cb and ca. It is in a particular order. So, this can be called the permutation of a, b, and c. But if the order does not matter then ab is the same as ba. Similarly, bc is the same as cb and ac is the same as ca. Here the list has ab, bc, and ac alone. This can be called the combination of a, b, and c.

Counting Theory

The fundamental counting principle is a rule that is used to count the total number of possible outcomes in a given situation.