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Statistics and Prediction
Author(s) -
Hughes Cyril Davenport
Publication year - 1953
Publication title -
journal of the royal statistical society: series c (applied statistics)
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.205
H-Index - 72
eISSN - 1467-9876
pISSN - 0035-9254
DOI - 10.2307/2985728
Subject(s) - statistics , mathematics
Mr Hughes writes from the point of view of an organisation manufacturing components used on industrial equipment and requiring to predict future demand for the purposes of framing policy. He examines statistical techniques based on regression analysis and the analysis of time‐series and finds them wanting. He concludes that predictions must be based on a considerable amount of reliable, detailed information about a firm's customers and what happens to its products.