You can perform forecasting by
A)making an educated guess as to what the value of the dependent variable will be at some point in the future.
B)regression future dependent variables of future independent variables.
C)using the results of regression analysis to predict the value of the dependent variable will be at some point in the future.
D)using the results of regression analysis to predict the value of the dependent variable in a past period and comparing the predicted value to the actual value.

Question

Quizplus · Accepted Answer

Forecasting can be done by using the results of regression analysis to predict the value of the dependent variable (outcome) at some point in the future. This is done by using the regression equation to estimate the value of the dependent variable based on the values of the independent variables (predictors). Option A is not as reliable as it is not based on data and may not consider all the relevant factors affecting the outcome. Option B is not feasible as we cannot have data on future independent variables. Option D is backward looking and does not serve the purpose of forecasting.

You Can Perform Forecasting by