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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.
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You are the human resources director at a mid-sized paper supply company in Pennsylvania. Your company, We Do Paper, employs 300 people in a non-unionized setting. About half of
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