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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.
ABC is a right-angled isosceles triangle, right-angled at B. AP, the bisector of ∠BAC, intersects BC at P. Prove that AC 2 = AP 2 + 2(1+√2)BP 2 Ans: AC = √2AB (Sinc
how many numbers must be selected from the set A={1, 3, 5, 7, 9, 11, 13, 15}to guarantee that at least one pair of these numbers add up to16? Explain and justify your answer
Levels of significance A level of significance is a probability value which is utilized when conducting tests of hypothesis. A level of significance is mostly the probability
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Differentiate following. f ( x ) = sin (3x 2 + x ) Solution It looks as the outside function is the sine & the inside function is 3x 2 +x. The derivative is then.
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Universal set The term refers to the set which contains all the elements such an analyst wishes to study. The notation U or ξ is usually used to denote universal sets.
You recently started the paperwork to purchase your new home, and you were just notified that you can move into the house in two weeks. You decide to hire a moving company, but are
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