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Statistics and Prediction

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  • Cyril Davenport Hughes

Abstract

Mr Hughes writes from the point of view of an organisation manufacturing components used on industrial equipment and requiring to predict future demand for the purposes of framing policy. He examines statistical techniques based on regression analysis and the analysis of time‐series and finds them wanting. He concludes that predictions must be based on a considerable amount of reliable, detailed information about a firm's customers and what happens to its products.

Suggested Citation

  • Cyril Davenport Hughes, 1953. "Statistics and Prediction," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 2(2), pages 101-106, June.
    • Handle: RePEc:bla:jorssc:v:2:y:1953:i:2:p:101-106
    DOI: 10.2307/2985728
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