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Q. Mathematical models of Forecasting techniques ?
Mathematical models: this expresses the relationship between the independent variables (like investment, sales, production etc) and dependent variables (number of the workers required). This is a number of variables influencing man power future needs are put into a formula. Several types of models like regression, optimization and probabilistic models can be used. These are complex and are used only by the big organizations.
Question: (a) ERP systems are designed to provide the information, analysis tools and communication abilities to support efficient and effective business processes. Process map
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