A statistics student's presentation of the results of her study included many charts, graphs, and tables. Identify the kind of statistical study conducted.Select one:a.The purpose of the study may have been completely descriptive or it might have been inferential.b.The study was necessarily inferential.c.The study was purely descriptive.

Answered: Select one: a. The purpose of the study…

Select one: a. The purpose of the study may have been completely descriptive or it might have been inferential. b. The study was necessarily inferential. c. The study was purely descriptive.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section: Chapter Questions

Problem 44P

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Concept explainers

Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.

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A statistics student's presentation of the results of her study included many charts, graphs, and tables. Identify the kind of statistical study conducted.

Select one:

The purpose of the study may have been completely descriptive or it might have been inferential.

The study was necessarily inferential.

The study was purely descriptive.

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