Advantages of least square method of sales forecasting
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Advantages:
Simplicity: It is very easy to explain and to understand
Applicability: There are hardly any applications where least squares doesn’t make sense
Theoretical Underpinning: It is the maximum-likelihood solution and, if the Gauss-Markov conditions apply, the best linear unbiased estimator
Simplicity: It is very easy to explain and to understand
Applicability: There are hardly any applications where least squares doesn’t make sense
Theoretical Underpinning: It is the maximum-likelihood solution and, if the Gauss-Markov conditions apply, the best linear unbiased estimator
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