I need help understanding the FORECAST function in simple terms (if
possible). Do I have this straight?
Let's say I have 9 periods of history, and I want to forecast what will
happen in the 10th. I have the periods listed as numbers (1,2,3...) in
A1:A9, with period 10 in A10. Then I have the historical data for each
period in B1:B9. I put the following in cell B10:
=FORECAST(A10,B1:B9,A1:A9)
Have I used this function correctly to predict a forecast of what will
happen in period 10? Does it extrapolate between periods if I have some
missing? For instance, if I'm missing period 5, will it still calculate 10
based on an estimate of what 5 "should be"?
Thanks in advance.