Forecasting Techniques

Below are forecasting techniques often used in Operations Research.

For series without trend and seasonality.

Model:  where:

 is independent and

Moving Average

Where

	= an estimate of M made at time t
N	= observations (given equal weight)
	= new observation

Single Exponential Smoothing

Include all past data and give greater weight to more recent observations.

Where St = exponentially smoothed average at time t and

And,