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Why are forecasts important to organizations

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Reference no: EM133189862

Complete the following:

Why are forecasts important to organizations?

Explain the role of regression analysis in business decision-making. What are the important properties of regression coefficients? Distinguish between correlation and regression analysis.

What is the difference between a causal model and a time series model?

The following are our company's annual sales ($ million) data from 2015 to 2021. Use the trend equation to forecast sales for 2025.

Year

2015

2016

2017

2018

2019

2020

2021

Sales $000,000

16

17

25

28

32

43

50

Reference no: EM133189862

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