3. Quantitative Forecasting Techniques

If you have picked up this book and immediately flipped to this chapter so that you can gain an in-depth understanding of statistical forecasting, including all formulas, assumptions, data requirements, and so forth, then you should put this book back on the shelf and find a different book. And there are lots of them. Plenty of other books will give you guidelines on techniques ranging from Box-Jenkins to Fourier Analysis to Spectral Analysis to Autoregressive Moving Average and so on. The books are excellent and the statistics are important elements of forecasting excellence. But that’s not what this book provides.

This chapter focuses on the reasons behind statistical, or quantitative, forecasting techniques, ...

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