Articles by alphabetic order
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
 Ā Ī Ñ Ś Ū Ö Ō
1 2 3 4 5 6 7 8 9 0


Prediction

From Tibetan Buddhist Encyclopedia
Revision as of 12:52, 24 February 2014 by Adminos (talk | contribs) (Created page with "thumb|250px| A prediction or forecast is a statement about the way things will happen in the {{Wiki|future}}, often but not always based on exp...")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search
Magic Circle.JPG

A prediction or forecast is a statement about the way things will happen in the future, often but not always based on experience or knowledge. While there is much overlap between prediction and forecast, a prediction may be a statement that some outcome is expected, while a forecast may cover a range of possible outcomes. Although guaranteed information about the information is in many cases impossible, prediction is necessary to allow plans to be made about possible developments; Howard H. Stevenson writes that prediction in business "... is at least two things: Important and hard." Prediction is closely related to uncertainty. Reference class forecasting was developed to eliminate or reduce uncertainty in prediction.

Articles containing word "Prediction" in the title