An introduction to stochastic processes

In Progress.......

An introduction to stochastic processes

Reference:
[1]. https://www.datasciencecentral.com/profiles/blogs/a-simple-introduction-to-complex-stochastic-processes

Monte Carlo Simulations

In Progress.......

Monte-Carlo Simulations :- From Reference [1],

Monte Carlo simulation is a technique used to understand the impact of risk and uncertainty in financial, project management, cost, and other forecasting models. A Monte Carlo simulator helps one visualize most or all of the potential outcomes to have a better idea regarding the risk of a decision

Example : Reference [3]

Brownian Motion: This concept is adopted from the Brownian motion (Chemistry),  as this part is more descriptive so, it can be well studied in the next post named : an introduction to stochastic-processes
This is widely used for the [4], simulations of various real cases like "Mathematical Modelling"

Reference:

[1] https://towardsdatascience.com/the-house-always-wins-monte-carlo-simulation-eb82787da2a3?gi=f87b5dd55add
[2]. https://www.palisade.com/risk/monte_carlo_simulation.asp
[3]. http://math.info/Misc/House_Edge/
[4]. https://en.wikipedia.org/wiki/Brownian_motion

Econometric Methods:

In Progress.......

Trend Projection Method:

Econometric Methods:

Econometric methods combine statistical tools with economic theories for forecasting. [1]
The forecasts made by this method are very reliable than any other method.

An econometric model consists of two types of methods namely,
regression model
simultaneous equations model.







Reference -

[1] http://www.economicsdiscussion.net/demand-forecasting/techniques-of-demand-forecasting-survey-and-statistical-methods/3611

Demand Forecasting

In Progress....... 
Demand Forecasting



Statistical Methods of Demand Forecasting  Vol 1.
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- Linear Regression ->

- Analysis of variance (ANOVA)

- Moving Averages











Reference Links:

[1]. https://www.slideshare.net/SatishRaju1/3-demandforecasting

[2] https://www.bistasolutions.com/resources/blogs/5-statistical-methods-for-forecasting-quantitative-time-series/

[3] http://www.economicsdiscussion.net/demand-forecasting/techniques-of-demand-forecasting-survey-and-statistical-methods/3611

[4]