The Demand Forecasting Model

doi:https://doi.org/10.1007/978-3-8349-6184-6_6

The Demand Forecasting Model

Steffen Christ-2011-01-01-Gabler eBooks

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TL;DRAbstract

This chapter’s objective is to develop an overarching linear basis function model to forecast demand, which is done in Section 6.1. To ensure that it includes all relevant demand drivers, the model is validated following a typical frequentist interpretation and using the appropriate tests in Section 6.2 before the approach is finally extended to allow for Bayesian learning in Section 6.3.

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This chapter’s objective is to develop an overarching linear basis function model to forecast demand, which is done in Section 6.1. To ensure that it includes all relevant demand drivers, the model is validated following a typical frequentist interpretation and using the appropriate tests in Section 6.2 before the approach is finally extended to allow for Bayesian learning in Section 6.3.

Keywords

Frequentist inferenceSection (typography)EconometricsBayesian probabilityInterpretation (philosophy)Demand forecastingComputer scienceDemand curve

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