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causal quantitative models


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Techniques used to forecast such future trends as demand for a product, based on establishing a causal relationship between two or more variables. For example, average temperature, time of year, and a local demographic profile can be used to predict ice-cream sales in an area. The reliability of the techniques is dependent on the correct identification of significant variables. Mathematical techniques, using regression analysis, are used to establish a functional relationship between variables.

Subjects: Business and Management.


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