BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a causal relationship
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an association
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no relationship
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a seasonal relationship
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Detailed explanation-1: -Causal models are mathematical models representing causal relationships within an individual system or population. They facilitate inferences about causal relationships from statistical data. They can teach us a good deal about the epistemology of causation, and about the relationship between causation and probability.
Detailed explanation-2: -Summary. Causal forecasts help managers measure the relationship between dependent and independent variables. It enables managers to measure the possible impact to their business from the changes. Linear regression is a commonly used technique in causal forecasting.
Detailed explanation-3: -In research, when we say two variables have a causal relationship (or a cause-and-effect relationship), we mean that a change in one variable (known as the independent variable) causes a change in the other (the dependent variable).