Forecasting from Known Distributions

Peter Kenny

Chapter Chapter 18 in Better Business Decisions from Data, 2014, pp 183-195 from Springer

Abstract: Abstract The normal distribution has featured prominently in previous chapters because it is found to appropriately describe the data obtained in numerous situations. If there is good reason to believe in advance that the normal distribution will apply, then predictions can be made regarding future observations. Many other distributions are found to apply in certain circumstances, and, in a similar way, these can provide useful estimates of future outcomes. This chapter describes several of the commonly used distributions and gives examples of their use in forecasting.

Keywords: Poisson Distribution; Exponential Distribution; Binomial Distribution; Weibull Distribution; Cumulative Probability (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/978-1-4842-0184-8_18

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