High correlation between independent and dependent variable

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1. If one forecasting technique were more accurate than another technique when applied to past data, why would the first technique not necessarily be preferred for use in the future?

2. Does a high correlation between an independent and a dependent variable prove the independent variable has any influence over the dependent variable? Why or why not?

3. Quantitative forecasting focuses on past data to project future conditions. Even if this focus produces accurate forecasts, what might be dangerous about this approach?

Reference no: EM132089262

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