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Discuss How Seasonality Affects Forecasts with Examples

question 21

Essay

Discuss how seasonality affects forecasts with examples.


Definitions:

Encoding

The mechanism by which information gets into memory.

Attention

Concentrating and focusing mental resources.

Selectivity

Refers to the process of choosing or making a choice when faced with several options, often used in the context of attention, perception, or consumer choices.

Selective Attention

Focusing on a specific aspect of experience that is relevant while ignoring others that are irrelevant.

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