Examlex
In a short essay, discuss why simply examining a country's per capita GDP and its population doesn't necessarily lead to a good estimate for potential demand.
Random Fluctuations
The unpredictable changes in variables or systems over time, which can be due to a variety of uncontrolled or random factors.
Seasonal Fluctuations
Variations in demand, supply, or other economic factors that regularly occur at specific times of the year due to changes in season.
Demand Increases
A rise in the quantity of a product or service that consumers are willing and able to purchase at various prices, often leading to adjustments in production or pricing strategies.
Smoothing Constants
Parameters used in exponential smoothing methods for forecasting that determine the weight of historical data in making predictions.
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