Let's Put the Seasonality and Trend in Decomposition

When discussing forecasting, most textbooks in management science or operations management explain that the values in a time series are a function of seasonality, trend, and random variation. Many textbooks have pictures depicting different patterns of data. We present a workbook that allows the use...

Full description

Saved in:
Bibliographic Details
Published in:Transactions on education 2012-05, Vol.12 (3), p.147-152
Main Authors: Nydick, Robert L., Weiss, Howard J.
Format: Article
Language:English
Subjects:
decomposition
Educational aspects
excel
forecasting
MAD
Management
Management science
MAPE
MSE
Sciences education
seasonality
trend
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:When discussing forecasting, most textbooks in management science or operations management explain that the values in a time series are a function of seasonality, trend, and random variation. Many textbooks have pictures depicting different patterns of data. We present a workbook that allows the user to manipulate a dynamic picture of these patterns and, in so doing, allows the user to examine the relationship between error measures and forecasting techniques for these different patterns. We also show a result regarding the relationship between the annual trend and the quarterly trend that surprises most of our students.
ISSN:1532-0545
1532-0545
DOI:10.1287/ited.1110.0079