ABSTRACT
Good forecasts are vital in many areas of scientic, industrial, commercial
and economic activity. This book is concerned with time-series forecasting,
where forecasts are made on the basis of data comprising one or more
time series. A time-series is a collection of observations made sequentially
through time. Examples include (i) sales of a particular product in
successive months, (ii) the temperature at a particular location at noon
on successive days, and (iii) electricity consumption in a particular area for
successive one-hour periods. An example is plotted in Figure 1.1.
