Simple Methods and Procedures Used in Forecasting
Simple Methods and Procedures Used in Forecasting
Simple Methods and Procedures Used in Forecasting
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Exponential Exponential Exponential Smooth<strong>in</strong>g<br />
Smooth<strong>in</strong>g<br />
<strong>Methods</strong><br />
<strong>Methods</strong><br />
Exponential smooth<strong>in</strong>g has become<br />
very popular as a forecast<strong>in</strong>g method<br />
for a wide variety of time series data.<br />
The predicted value <strong>in</strong> this method is a<br />
weighted average of past observations .<br />
Weights decay geometrically as we go<br />
backwards <strong>in</strong> time .
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