3. Unstable or changing patterns or relationships: Statistical mod- els assume that patterns and relationships are constant.

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3. Unstable or changing patterns or relationships: Statistical mod-

els assume that patterns and relationships are constant. This is rarely the case in the real world, however, where special events and actions, fashions, cycles, and so forth bring sys-

tematic changes and therefore introduce non-random errors in forecasting.

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Forecasting Methods And Applications

ISBN: 9780471532330

3rd Edition

Authors: Spyros G. Makridakis, Steven C. Wheelwright, Rob J Hyndman

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