Forecasting is a vital part of the planning process of most private and public organizations. A number of extant measures: Mean Absolute Deviation (MAD), Mean Square Error (MSE) and Mean Absolute Percentage Error (MAPE), have been used to assist in judging the forecast accuracy, and...

Regression analysis is a commonly applied technique used to measure the relationship/predict/forecast of comparable units. A set of comparable units is some group of entities each performing somewhat the same set of activities. In this chapter, we will apply a modified version of our recently...