Casual Modelling and Line of best fit

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    Casual Modelling and Line of best fit

    • Regression – on calculator (CASIO FXCG50): stats, 2 Variable, calc
      • Closer to 1 greater relationship between the two variables
      • Closer to 0 No relationship between the two variables
      • -1 Absolute negative correlation between the two variables

    Qualitative Forecasting: Uses people’s opinions or judgements, often used when there is a lack of accurate numerical date or in quickly changing markets

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