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Trend Component
A component of time series data that represents the consistent, long-term direction of the data over time.
Regression Analysis
A set of statistical processes for estimating the relationships among variables, often used to predict the value of a dependent variable based on one or more independent variables.
Exponential Smoothing
A time series forecasting method for univariate data that applies diminishing weights to past observations, often used for short-term forecasts.
Random Variation
Unpredictable fluctuations that are inherent in processes or measurement methods and cannot be controlled.
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