Forecasting multiple future time steps using ARIMA

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Reference no: EM133600877

Question

1. Time series forecasting with ARIMA models often involves making predictions for multiple steps ahead. How can ARIMA models be extended to handle multi-step forecasting?

2. Discuss the strategies, such as recursive forecasting or direct forecasting, and the challenges associated with forecasting multiple future time steps using ARIMA.

Reference no: EM133600877

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