EBK OM
EBK OM
6th Edition
ISBN: 9781305888210
Author: Collier
Publisher: YUZU
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Chapter 9, Problem 4DQ
Summary Introduction

Interpretation:Differences between time-series forecasting model and regression-based forecasting model and the model that should be suggested to the manager.

Concept Introduction:Time-series forecasting model is about predicting the future behavior based on the historical data derived from the statistical techniques.

Regression method on the other hand attempts in developing a mathematical relationship between the item that is being forecasted and the factors that may cause it to behave the same.

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Introduction to Forecasting; Author: Ekeeda;https://www.youtube.com/watch?v=5eIbVXrJL7k;License: Standard YouTube License, CC-BY