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Air Cargo Exam 2 Practice

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Within the two 'main forecasting approaches' there are three 'forecast model types.' One of the three 'forecast model types' is the category of _____ forecasting models.
Correct Answer:
Time Series
Explanation:
Time series forecasting uses data points ordered in time to predict future values, making it the category that directly relies on patterns within the historical sequence—like trend, seasonality, and serial correlation. This approach is distinct from regression, which uses external predictors to estimate the target variable, and from simulation, which generates many possible outcomes through randomized modelling. Because the question asks for the forecast model type that fits the time-ordered data approach, time series forecasting models are the appropriate category.

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