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Dexter learns of a breakthrough in solar panel technology from an online science magazine.Dexter collects as much secondary information as he can on the topic of interest and comes up with some very interesting solar panel application ideas that are presently not in use but can be introduced with the help of the breakthrough technology.Dexter considers hiring a marketing research firm.In the above scenario,Dexter has:
Exponential Smoothing
A time series forecasting method for univariate data that involves using weighted averages of past observations, with the weights decaying exponentially as the observations get older.
One-Period Ahead Forecasting
A forecasting method that predicts the value of a variable for the next period based on past and current data, often used in time series analysis.
Seasonal Components
Periodic fluctuations in data that occur at regular intervals due to seasonal factors.
Residual Plot
A graphical representation used in statistics to visualize the difference between observed and predicted values from a regression analysis.
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