Forecasting is the process of predicting
future values of a variable that changes
over time (a time series).
y Statistical forecasting attempts to
recognize patterns that have existed in
the past and extrapolate these patterns
into the future.
ECN 221 Exam 2 Review Sheet
Union of events
Intersection of events
Probability distribution (properties)
Discrete probability function
Continuous probability functi
Exam III Review Sheet (Ch 8,9,10,12)
Confidence Intervals (mean (z or t), proportion (z)
Determining sample size (estimating mean or proportion)
Six steps for testing
ECN 221 Review for Final Exam
Simple linear regression model
Independent variables Xs
Dependent variable Y
Least squares method
Multiple linear regression model
Partial regression coefficients
Residual (errors) (Y Y-hat)
Concepts to Study Exam 1
Syllabus: basic questions about the course.
Chapter 1: vocabulary and definitions and ability to identify parts of data sets.
1. Data and its components:
Data, are the facts we observe in a study or experiment.