chapter  5
24 Pages

Forecasting with Time-Series Techniques

Even unadjusted time-series predictions serve as a "straw man" with which other forecasts can be compared. It would be a major embarrassment if time-series techniques outperformed more complex and timeconsuming forecasting procedures. As we shall see, time-series forecasts can compete with predictions generated by the best forecasters in the nation. Thus, the very best forecasters consider time-series analysis when making their predictions.