Forecast errors, Mathematics

Forecast Errors

Differences among actual results and predictions may arise from many reasons. They may arise from random influences, usual sampling errors, option of the wrong forecasting system or alpha value or only that the future conditions turn out to be radically different from the past. Whatever the cause or causes management wish to know the extent of the forecast errors and different methods exist to calculate these errors.

A commonly utilized technique, suitable to time series, is to calculate the mean squared error of the deviations between actual and forecast values then choose the forecasting system and/or parameters which gives the lowest value of mean squared errors that is akin to the 'least squares' method of establishing a regression line.

Posted Date: 2/16/2013 7:45:55 AM | Location : United States







Related Discussions:- Forecast errors, Assignment Help, Ask Question on Forecast errors, Get Answer, Expert's Help, Forecast errors Discussions

Write discussion on Forecast errors
Your posts are moderated
Related Questions
Given that f(x,y) = 3xy -  x 2 y  - xy 2 . Fi nd all the points on the surface z = f(x, y)where local maxima, local minima, or saddles occur

Let f : R 3 → R be de?ned by:                                        f(x, y, z) = xy 2 + x 3 z 4 + y 5 z 6 a) Compute ~ ∇f(x, y, z) , and evaluate ~ ∇f(2, 1, 1) . b) Brie?y

A cylindrical hole with a radius of 4 inches is cut through a cube. The edge of the cube is 5 inches. Determine the volume of the hollowed solid in terms of π. a. 125 - 80π

Find the slope of the line tangent to the graph of f(x)= 3-2ln(2x^2+4) at the point (4, F(4))

which fractions is equivalent to 5/ 6 a.20/24 b.9/10 c.8/18 d.10/15

What is Pythagorean Triples? A set of three numbers a, b, and c that can satisfy the equation A 2 +b 2 = c 2 , is called a Pythagorean triple. The following is a list of

write a definition for associative property of multiplication in your own words and explain how you use it to compute 4*25*27 mentally


Problem solving for andre A can of powdered milk and a can of evaporated milk cost Php 83.90 together. Two cans of evaporated milk and a can of powdered milk cost Php 118.05

Assessment task This Term Assessment will require you assess the effectiveness of your current lunch budget and prepare a proposal to your caregiver to seek permission to be given