Question

What variables do we need to consider when selecting a forecasting technique? For example if we...

What variables do we need to consider when selecting a forecasting technique? For example if we want to predict condo sales next year, and that is almost impossible which variables would you take in consideration.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

ANSWER::

We have to consider beneath factors while choosing a gauging system:

1. Precision: How much exact do you need your conjecture to be?

2. Time: How much time do you need to run the estimate?

3. Worth: what is the estimation of the conjecture for your business ?

4. Data: what amount of data do you requirement for the figure and by what method will you produce that data?

NOTE:: I HOPE YOUR HAPPY WITH MY ANSWER....***PLEASE SUPPORT ME WITH YOUR RATING...

***PLEASE GIVE ME "LIKE"...ITS VERY IMPORTANT FOR ME NOW....PLEASE SUPPORT ME ....THANK YOU

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
We gave a basic introduction to forecasting during class this week. Using the basic framework we...
We gave a basic introduction to forecasting during class this week. Using the basic framework we discussed, design a scenario in which you would need to predict something (demand, costs, sales etc...) and lay out your process for gathering the necessary data. Next, explain the process for taking the data you collect and drawing appropriate conclusions. Finally, walk through to process of presenting your findings and avoiding potential pitfalls.
introduction to forecasting during class this week. Using the basic framework we discussed, design a scenario...
introduction to forecasting during class this week. Using the basic framework we discussed, design a scenario in which you would need to predict something (demand, costs, sales etc...) and lay out your process for gathering the necessary data. Next, explain the process for taking the data you collect and drawing appropriate conclusions. Finally, walk through to process of presenting your findings and avoiding potential pitfalls.
8. When do we use a correlation? Give an original example that is relevant to criminology...
8. When do we use a correlation? Give an original example that is relevant to criminology or criminal justice. 9. What two things does the correlation value tell us about the relationship between two variables? 10. I want to run a correlation on the variables age at first arrest and number of delinquent friends. Which is my independent variable and which is my dependent variable?
When counseling a patient what do we need to be aware of when considering the sex...
When counseling a patient what do we need to be aware of when considering the sex of the patient (male, female) and then what do we need to be aware of when we then consider the gender of the client (the result of expected gender roles) especially if the gender of the patient is not the same as their biological sex?
In Quantitative Analysis, when and why do we need to consider activities?
In Quantitative Analysis, when and why do we need to consider activities?
To use a mass spectrometer we first need to ionize the incoming particles, so we do...
To use a mass spectrometer we first need to ionize the incoming particles, so we do the following. First there is a particle of known charge q = 2 |e|, entering the left side of the velocity selector, which has a voltage of 884V between the plates, a plate separation of d = 1cm, and a magnetic field of Bin = 2T. This particle then enters the region of a second magnetic field of B0,in = 0.5T, and moves in...
3) Now you will plan for your retirement. To do this we need to first determine...
3) Now you will plan for your retirement. To do this we need to first determine a couple of values. a. How much will you invest each year? $1,000 a year is what i will invest. State what you will use for P, r, and n to earn credit. ( The typical example of a retirement investment is an I.R.A., an Individual Retirement Account, although other options are available. However, for this example, we will assume that you are investing...
1. What economic variables would you need to consider in order to distinguish between a developing...
1. What economic variables would you need to consider in order to distinguish between a developing country with a short-term balance of payments problem and one in a debt crisis? Explain what data you would need to look at and why.
Think of a problem dealing with two possibly related variables (Y and X) that you may...
Think of a problem dealing with two possibly related variables (Y and X) that you may be interested in. Share your problem and discuss why a regression analysis could be appropriate for this problem. Specifically, what statistical questions are you asking? Why would you want to predict the value of Y? What if you wanted to predict a value of Y that’s beyond the highest value of X (for example if X is time and you want to forecast Y...
Q10a-Sometimes we need to find out long it will take money to grow to some particular...
Q10a-Sometimes we need to find out long it will take money to grow to some particular amount. For example, if a company’s sales are growing at 10% per year, how long will it take sales to triple? Q10b – If you want the investment to double in 8 years, what interest rate must it earn? Q11a – What is the future value of a 14-year ordinary annuity of $450 if the interest rate is 6%? Q11b – What is the...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT