BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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provide evidence of a causal relationship between an independent variable and the variable to be forecast
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use the average of the most recent data values in the time series as the forecast for the next period
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occur whenever all the independent variables are previous values of the same time series
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relate a time series to other variables that are believed to explain or cause its behavior
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Detailed explanation-1: -The time series causal model is grounded on the theory of inferred causation that is a probabilistic and graph-theoretic approach to causality featured with automated learning algo-rithms. Applying our model we are able to infer cause-effect relations that are implied by the observed time series data.
Detailed explanation-2: -Causation indicates that one event is the result of the occurrence of the other event; i.e. there is a causal relationship between the two events. This is also referred to as cause and effect.
Detailed explanation-3: -When two variables have a causal relationship, a change in the independent variable (or the ‘cause’) influences a change in the dependent variable (or the ‘effect’). There are four main criteria for causality: Covariation: The variables must vary together.
Detailed explanation-4: -Causal modeling requires the researcher to construct a model to explain the relationships among concepts related to a specific phenomenon (Asher, 1983). A causal model is a diagram of the relationships between independent, control, and dependent variables. A path model is a less complex type of causal model.