What is forecasting and how does it work?
What will be an ideal response?
Forecasting tools usually analyze historical and seasonal trends and then take into account existing and predicted business conditions to estimate some variable of interest, such as customer demand or projected revenue. Forecasting tomorrow's demand, next month's sales, or next year's stock price relies especially on statistical decision support tools. For example, forecasting will depict the relationship between the summer season and an increase in the sale revenue of ice cream.
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For a population with any distribution, the form of the sampling distribution of the sample mean is
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Indicate whether the statement is true or false