Introduction

This discussion assignment gives you the opportunity to research the four components of the time series decomposition technique. You will consult academic sources and explain the four components without using technical jargon.

Instructions

In your own words, write a description of each of the four components of the classic time series decomposition technique. Do your best to avoid using mathematical relationships and technical jargon so that your explanations can be understood by small business owners. Please cite at least two academic sources.

This discussion can be conducted as a roleplay activity. Each student will assume the role of an audience member who is a small business owner and will ask a question about forecasting in plain language. Each of you, in your role as an expert, will answer the question. Your classmates will answer your question, and you will answer the questions posted by your classmates.