Forecasting is required in many situations. Stocking an inventory may require forecasts of demand months in advance. Telecommunication routing requires traffic forecasts a few minutes ahead. Whatever the circumstances or time horizons involved, forecasting is an important aid in effective and efficient planning. This textbook provides a comprehensive introduction to forecasting methods and presents enough information about each method for readers to use them sensibly.
Exponential smoothing methods have been around since the 1950s, and are still the most popular forecasting methods used in business and industry. However, a modeling framework incorporating stochastic models, likelihood calculation, prediction intervals and procedures for model selection, was not developed until recently. This book brings together all of the important new results on the state space framework for exponential smoothing. It will be of interest to people wanting to apply the methods in their own area of interest as well as for researchers wanting to take the ideas in new directions. Part 1 provides an introduction to exponential smoothing and the underlying models. The essential details are given in Part 2, which also provide links to the most important papers in the literature. More advanced topics are covered in Part 3, including the mathematical properties of the models and extensions of the models for specific problems. Applications to particular domains are discussed in Part 4.
A journey from faith via evidence. Why a university professor gave up religion and became an unbeliever. Rob J Hyndman is Professor of Statistics at Monash University, Australia. He was a Christadelphian for nearly 30 years, and was well-known as a writer and Bible teacher within the Christadelphian community. He gave up Christianity when he no longer thought that there was sufficient evidence to support belief in the Bible. This is a personal memoir describing Rob's journey of deconversion. Until recently, he was regularly speaking at church conferences internationally, and his books are still used in Bible classes and Sunday Schools around the world. He even helped establish an innovative new church, which became a model for similar churches in other countries. Eventually he came to the view that he was mistaken, and that there was little or no evidence that the Bible was inspired or that God exists. In this book, he reflects on how he was fooled, and why he changed his mind. Whether you agree with his conclusions or not, you will be led to reflect on the nature of faith and evidence, and how they interact.
Market_Desc: · Market Researchers· Financial Analysts· Business Planners· Business Economists· Operations Managers· Human Resources Administrators· Business Analysts of various kinds· Other Business Professionals Special Features: · A managerial, business orientation approach is used instead of a mathematical, research focus. Emphasis placed on the practical uses of forecasting.· All data sets used in this text will be available on the Internet.· Coverage now includes the latest techniques used by managers in business today. About The Book: Known from its last editions as the Bible of Forecasting , the third edition of this authoritative text has adopted a new approach-one that is as new as the latest trends in the field: Explaining the past is not adequate for predicting the future . In other words, accurate forecasting requires more than just the fitting of models to historical data. Inside, readers will find the latest techniques used by managers in business today, discover the importance of forecasting and learn how it's accomplished. And readers will develop the necessary skills to meet the increased demand for thoughtful and realistic forecasts.
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