O'Reilly logo

The Humongous Book of Statistics Problems by W. Michael Kelley, Robert Donnelly

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 16
FORECASTING
Predicting future values of random variables
This chapter investigates forecasting, applying a variety of mathematical techniques to predict future values of a random variable. Forecasts provide an integral foundation for organizational planning, as business decisions often rely on the dependable information garnered from these methods. In this chapter, you will explore some of the most common forecasting methods and the means by which to determine the accuracy of their predictions.
This chapter explores several different forecasting methods, including moving average, exponential smoothing, and the regression model that was introduced in Chapter 14. Forecasting accuracy is also measured, using mean absolute deviation and ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required