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discussion on methodology of forecasting

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Provide an introduction and background discussion on methodology of forecasting. Give an example on forecasting.

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Solution Summary

Your response is 247 words. The discussion tells you what forecasting is and gives a link to a tree of forecasting methods and discusses the four most common forecasting methods.

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Forecasting is the practice of estimating future events. The estimating uses knowledge and assumptions, and the way the assumptions are gather and used can vary, usually on the type of event you wish to forecast. If you are forecasting your grade in the course, you may use past grade and get an average and forecast that for the remaining assignments. If you are predicting weather patterns, you might look at seasonality in prior years and forecast that ...

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Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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