Glossary
harmonized
standardized codes set by a higher authority e.g., goverment, international body
hazmat
hazardous material
hedge contract
a contract that is designed to protect a company against future fluctuations in the commodity market
hierarchy
all factors in a structure of parent, child, and sibling relationships of a model
Holt-Winters models
Holt-Winter's model incorporates three potentially different smoothing constants. The Holt-Winter's model has one smoothing constant to update the level, one for the slope, and one for the seasonal components. This approach is most useful when the seasonal component and the trend component are changing at different paces over time. The three smoothing constants lie somewhere between 0 and 1. If the components change rapidly, large smoothing constants should be considered; for stable components, the smoothing constants should be close to zero.