How many steps are involved in decision making process? What is the importance of each step? Why is regression analysis also called as least squares regression? What is the relationship between SST, SSR and SSE? What does ANOVA stand for? How is it computed? What are the different methods under each of the forecasting technique: (1) Qualitative models, (2) Time-series methods, and (3) Causal methods How and where are they used? Must be answered in 400 words.
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How many steps are there in the decision-making process? What role does each step play? What is the significance of the term “least squares regression” in regression analysis? What is the connection between SST, SSR, and SSE? What exactly does ANOVA stand for? How is it calculated? What are the various methods under each forecasting technique: (1) Qualitative models, (2) Time-series methods, and (3) Causal methods are all used. What are they used for and where are they used? Responses must be in 400 words or less.
