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Basic Question 4 of 11
When forecasts are obtained by fitting a model and computing minimum mean-square-error forecasts from the model, the differences between the observed and the fitted values are:
II. in-sample forecast errors.
III. out-of sample forecast errors.
I. residuals from the fitted model.
II. in-sample forecast errors.
III. out-of sample forecast errors.
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Learning Outcome Statements
explain the instability of coefficients of time-series models;
describe characteristics of random walk processes and contrast them to covariance stationary processes;
CFA® 2025 Level II Curriculum, Volume 1, Module 5.