MIS171 Lecture Notes - Lecture 7: Time Series
8 Sep 2018
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Demand to control to plan for facilities inventory levels, forecast enrolments. : annual profits for bhp interest rates, and expected tax. Marketing executives forecast demand, sales, and consumer preferences for strategic planning; Retail stores forecast hire employees, and provide training. Table with values of the time series variable listed in chronological order as well as: the absolute changes from one period to the next the percentage changes from one period to the next. The time series table may give an indication of any trends or patterns in the time series, and may highlight any potential abnormalities. Example: xyz company is time-series plot series data. The vertical axis measures the variable of interest. The horizontal axis corresponds to the time periods. Long-run increase or decrease over time (overall upward or downward movement) Data taken over a long period of time. Trend can be upward or downward trend can be linear or non-linear.
