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Topic: Business
Number of pages / Number of words: 5 / 1145
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Time series analysis is “based on the idea that the history of occurrences over time can be used to predict the future” (Chase et al., 514). Time series analysis is a quantitative evaluation of the history of a particular product. “A time series is a set of ordered observations on a quantitative characteristic of a phenomenon at equally spaced time points” (Arsham, n...


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Simple moving averages are used when forecasting is needed for a certain time based on the information preceding that time. Predicting demand based on past needs and averages can be smooth for a company the longer the period that is being evaluated.

Regression analysis is the forecast of a variable based on another variable...


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