Technology plays a key role in the lives of people in modern society. Modern life would not be livable, or at least tolerable, without personal computers, the internet, and cellphones. Certainly, my grandparents and parents did not grow up with the most-up-to-date communications technology, and my grandparents, especially, had no access to any of the modern communications advances that younger generations now take for granted. In 50 or so short years, modern communications technology has dramatically changed the way people socialize, conduct business, go to school, and use entertainment on a daily basis. Moreover, the exponential growth of modern ...
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People always wanted to know something about future events. However, after the development of business and industrial production, forecasting became the necessity. Numerous real-life tasks require data on future trends as well. In the XXI century, forecasting is performed using mathematical modelling with computer programs. Extrapolation methods use the data of the previous periods to generate information about the future. This means that the past movements of the variables are used to obtain the future values. There are extrapolation methods based on the regression models, exponential smoothing, moving averages, etc. Although some methods require complicated calculations, when the software ...
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