Time Series Forecasting Techniques - SAGE …
733Time SeriesForecasting TechniquesBack in the 1970s, we were working with a company in the major homeappliance industry. In an interview, the person in charge of quantitativeforecasting for refrigerators explained that their forecast was based on one timeseries technique . (It turned out to be the exponential smoothing with trendand seasonality technique that is discussed later in this chapter.) This tech-nique requires the user to specify three smoothing constants called , , and (we will explain what these are later in the chapter). The selection of thesevalues, which must be somewhere between 0 and 1 for each constant, can havea profound effect upon the accuracy of the we talked with this forecast analyst, he explained that he had chosenthe values of for , for , and for.
73 3 Time Series Forecasting Techniques Back in the 1970s, we were working with a company in the major home appliance industry. In …
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