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All forecasts are made under some conditions of uncertainty, as the future is never entirely predictable.
Seasonal Forecasting Models
Companies may experience demand fluctuations by season. Seasonality is the pattern that repeats for each period or season. Seasonal forecasting is a decomposition of a times series forecast model. Data is gathered for each season to gain a picture of the seasonal factor for the period. Using the simple proportion, the seasonality factor consists of a comparison of the period or season average and the overall average. This allows the company to determine if sales are expected to be above or below average during certain times or seasons of the year...
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Common topics in this essay:
- Delphi Organization
- Forecasting Assignment
- Generally Accepted Accounting Principles
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