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How probability useful in whether forecasting?
Most people are not statistically trained so the probability of whether or not you are forecasting is so close to 0 that knowing its value is of little help.
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 to use SPSS in time series and forecasting?
we can use timeseries in forecasting future values depending upon current and past values. we can also construct ACF and PACF plots and can know how many spikes are there in linear stationary models.
How do time-series methods work?
This forecasting model uses historical data to try to predict future events.
What is the formula for labor forecasting?
There is no single formula since the models that are used vary quite considerably in terms of their complexity.
