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Chapter 19. Exponential Smoothing Models... > 19.1 Introduction
19.1 Introduction
Managerial resource allocations are often based on forecasting demands for products, services, human resources, or material supplies. Many forecasts use time series data. Such data, recorded at regular intervals (minutes, hours, days, weeks, months), represent a historical record. Time series forecasts use historical patterns in the data to predict future outcomes.
The following are characteristics of economic time series data:
