STATISTICAL EVALUATION OF FORECASTING METHODS.

Sanjeev Kumar Khichi, Dr.Nand Kishore Singh, Neha Nehra, Sarita Dahiya

Abstract


In this paper some systematic steps were used for forecasting. Generate forecasts for data with different patterns: level, trend, seasonality, and cyclical.Describe causal modeling using linear regression Compute forecast accuracy .Explain how forecasting models should be selected, Decide what needs to be forecast.Level of
detail, units of analysis & time horizon required.Evaluate and analyze appropriate data.Identify needed data.Select and test the
forecasting model, Cost, ease of use & accuracy,Generate the forecast accuracy over time.


Keywords


forecasting, data, linear regression

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References


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