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What is Regression Methods for Demand Estimation about?
Managers use forecasting techniques like regression analysis on past demand data to reduce uncertainty about future demand. Regression analysis estimates the relationship between demand (dependent variable) and factors that influence it (independent variables) using a functional form like linear, double-log, or quadratic. It allows forecasting demand given values of the independent variables. The chapter covers specifying a demand model, estimating parameters to find a "best fitting" line, and developing fo
- Author
- Nayana Weerasinghe
- Language
- EN