Time series helps to
(A) derive conclusions after arranging the time series in a systematic manner.
(B) predict the future behavior of a variable.
(C) study the past behavior of data.
(D) plan future operations.
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (A), (B), (C) and (D)
A time series is a set of observations arranged in order of time. Arranged this way, the data show how a variable has behaved in the past, and that pattern is used to forecast and plan.
So a time series is used to draw conclusions, study the past, predict the future and plan future operations.
Checking the statements
(A) derive conclusions after arranging the time series in a systematic manner. — Correct. Arranged data in time order lead to conclusions about the trend.
(B) predict the future behavior of a variable. — Correct. The past pattern is used for forecasting.
(C) study the past behavior of data. — Correct. This is the basic use of a time series.
(D) plan future operations. — Correct. Forecasts are the basis for planning.