decompositionof times series datawith- ohio university（decompositionof times series datawith- ohio university）.docVIP

Forecasting Time Series Demand Forecast – prediction of future conditions The expected cost of developing a forecast should not exceed the expected benefits. Types of forecasts include Weather Stock Market Sporting events Technological Economic Demand Demand Forecasts Factors that influence demand include Business cycle Growth Recession Recovery Stagnation Product Life cycle Introduction Growth Maturity Decline Customers own conditions Types and Characteristics of Demand Forecasts Long range: 5 years or longer Product planning Research programming Capital planning Plant locati