Forecasting - Statistics Project Example

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Summary

Forecasting methods use the previous trends to estimate the future figures. If there is an increasing trend in the preceding years , the forecast for the next year will also show that trend. If there is an…

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Subject: Miscellaneous
Type: Statistics Project
Level: Undergraduate
Pages: 4 (1000 words)
Downloads: 3
Author: freddy03

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For example, if the inflation rate in the economy is increasing constantly, the costs of the company will show an increasing trend in the preceding years. The forecast of the cost for the next year will be based on this increasing trend and the cost will be more than the previous year’s

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