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Issue:

Business

 

Written by:

William C

 

Date added:

June 8, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

7 / 1882

 

Was viewed:

3530 times

 

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Figure 2:Graph plotted between no. of tourist and corresponding month 10 10. Figure 3: Correlogram of Autocorrelation for various lags 11 11. Figure 4: Correlogram of Autocorrelation for first Difference 12 12. Figure 5: Forecast Comparison 13 Introduction: Many management and control decisions are often influenced by the current market situation and on how it is expected to change in the near future...
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An accurate prior estimate of the possible changes in the key factors (e.g. estimate of probable increase in demand of a product) can go a long way in improving the quality of decisions taken. Forecasting deals with the prediction of such future events and normally uses some sophisticated statistical techniques on the maintained historical data to derive that prediction...
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