What Is Predictive Modeling?
The forecasting model is to establish a mathematical model of forecasting when the quantitative forecasting method is used for forecasting. A predictive model is a quantitative relationship between things described in mathematical language or formulas for prediction. It reveals the inherent regularity between things to a certain extent, and it is used as the direct basis for calculating the predicted value when predicting. Therefore, it has a great impact on prediction accuracy. Any specific prediction method is characterized by its specific mathematical model. There are many types of prediction methods, each with a corresponding prediction model. [1]
Predictive model
Right!
- The forecasting model is to establish a mathematical model of forecasting when the quantitative forecasting method is used for forecasting. A predictive model is a quantitative relationship between things described in mathematical language or formulas for prediction. It reveals the inherent regularity between things to a certain extent, and it is used as the direct basis for calculating the predicted value when predicting. Therefore, it has a great impact on prediction accuracy. Any specific prediction method is characterized by its specific mathematical model. There are many types of prediction methods, each with a corresponding prediction model. [1]
- Subject: Mineral Resource Economy and Management
- Terms: Predictive Model
- English: prediction mode
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- In the formula: y is the predicted value; x is the value of the independent variable; a, b1, b2 ... bm is the regression coefficient. When the relationship between the independent variable x and the dependent variable y is straight up or down, a univariate linear prediction model can be used for prediction. When the independent variable x and the dependent variable y curve up or down, a univariate non-linear prediction model can be used. When the relationship between the independent variable x and the dependent variable y rises, falls, and rises and falls again and again, the repeated relationship can be predicted by using the model Y = a + b * x in the univariate linear prediction model.