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Modelling approaches to enhance the quality of forecasting processes

Aziz, RA and Percy, DF 2009, 'Modelling approaches to enhance the quality of forecasting processes' , Journal of Accounting, Business and Management, 16 (2) .

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Abstract

The purpose of this paper is to put forward an insight into a mathematical model proposed in concept with the hope that both academicians and practitioners will progress in achieving forecast accuracy. The model explains the use of probability distribution against point forecasts, the cost function and fundamentals of Bayesian methodology in approach. Previous observations through pilot study, postal survey, case study and a follow-up survey form a basis in formulating the mathematical model explained. In writing this paper, we attempt to give explanations for and cost effects of imperfect forecasts, an oversight which frequently occurs to management.

Item Type: Article
Themes: Built and Human Environment
Schools: Colleges and Schools > College of Business & Law > Salford Business School > Management Science and Statistics
Journal or Publication Title: Journal of Accounting, Business and Management
Refereed: Yes
Depositing User: Professor David F. Percy
Date Deposited: 10 Oct 2011 14:52
Last Modified: 20 Aug 2013 18:12
URI: http://usir.salford.ac.uk/id/eprint/18117

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