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Please explain these statements and which of them is wrong?
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The Answer-
The confidence level influences the width of the forecast interval
through the critical t-value that is used to calculate the distance from the forecasted value: The larger the confidence level, the wider the interval. Therefore,
Observation 1 is not correct.
Observation 2 is correct. The greater the standard error of the estimate, the
greater the standard error of the forecast
i take back my answer, i was wrong, i did some no. crunching, observation 2 is correct, my mistake.
Can you please explain the statements in simple language or Hindi if possi?