TIME SERIES ANALYSIS Definition

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TIME SERIES ANALYSIS is the branch of quantitative forecasting in which data for one variable are examined for patterns of trend, seasonality, and cycle.

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FRANCHISE is a legal arrangement giving rights to sell a product or service.

RUNNING TOTAL is the sum of any given set of numbers that is incremented/decremented as additional numbers become available over time. For example, a retail store makes sales throughout a time period; the running total is the sum of their sales, including returns/credits, at any given point of time during that time period: day, week, month, quarter, and year.

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