This book is concerned with modelling, learning and forecasting. A basic view of scientific modelling is that a model is any “simplified description of a system (etc.) that assists calculations and predictions” (Oxford English Dictionary). More broadly, a model is any scheme of description and explanation that organises information and experiences providing a means of learning and forecasting. The prime reason for modelling is to provide efficient learning processes which will enhance understanding and enable wise decisions.
KeywordsRandom Quantity Decision System Member Model Dynamic Linear Model Point Forecast
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