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Appropriate quantitative forecasting methods

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What conditions make quantitative forecasting methods appropriate? Besides taking historical data to forecast future data points. Please provide an explanation without using math if possible.

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TIME SERIES FORECASTING METHODS

Time series forecasting methods are based on analysis of historical data (time series: a set of observations measured at successive times or over successive periods). They make the assumption that past patterns in data can be used to forecast future data points.

1. Moving averages (simple moving average, weighted moving average): forecast is based ...

Solution Summary

The solution explains when quantitative forecasting is appropriate.

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