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How do the Composite Indexes predict future events?
The indexes predict by assuming that past trends and relationships will continue into the future.
Explain the concept of correlation and regression line as a forecasting tool?
once an equation for a regression is derived it can be used to predict possible future
How do you predict probability?
"Probability" is not something that occurs in the future. It's the numerical likelihood of something happening in the future. You don't predict the probability. You calculate it.
What is the difference between qualitative and quantitative techniques of forecasting?
Quantitative forecasting tools are used to predict future figures and quantities such as sizes and lengths. Qualitative forecasting tools are used to predict what something in the future will be like in terms of things other than set figures. For instance, they could predict what type a future element will be; what color it will be; what the nature of it will be.
How can you pick the 4 digit lottery number for the next day drawing?
Oh honey, if I had the secret to picking winning lottery numbers, do you really think I'd be here chatting with you? It's all luck and chance, so just close your eyes, cross your fingers, and pick a number out of thin air. Or better yet, save your money and buy yourself a nice dinner instead.
