Posts Tagged ‘stochastic’

Practical Time Series Forecasting – To Difference or Not to Difference

“It is sometimes very difficult to decide whether trend is best modeled as deterministic or stochastic, and the decision is an important part of the science – and art – of building forecasting models.” ― Diebold,  Elements of Forecasting, 1998 A time series can have a very strong trend. Visually, we often can see it. Gross…

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Practical Time Series Forecasting – To Difference or Not to Difference

“It is sometimes very difficult to decide whether trend is best modeled as deterministic or stochastic, and the decision is an important part of the science – and art – of building forecasting models.” ― Diebold,  Elements of Forecasting, 1998   A times series can have a very strong trend. Visually, we often can see it.…

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