Question: Explain the following formula and what does it have to do with forecasting accuracy? Forecast = Trend t-1 + Seasonality t-1 + Cyclical t-1 +

  • Explain the following formula and what does it have to do with forecasting accuracy?

Forecast = Trend t-1 + Seasonality t-1 + Cyclical t-1 + Causal Factor(s)t-1 + Unexplained Variance

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