I am supposed to come up with a prediction model based on past data. Now, I have not had much experience with working on Math in recent past and I only have knowledge of elementary school Mathematics. Based on my background and the task assigned to me, can anyone please suggest me how to go about it? I have been looking around over the internet and it seems like I need to use probability to predict outcomes based on past, but I not entirely sure.
Guidance in implementing a prediction model
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probability
1 Answers
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There are many approaches. If the data is naturals, one simple approach is to look at the probability of each value and make that your prediction. If it is the number of people in a given room, and 80% of the time there is nobody, 10% there is one person, 5% there are two, and 1% each of 3,4,5,6,7, that is a prediction. Maybe there is a correlation with the time of day, so if you can look at the time you can improve the prediction. Maybe there is a trend with time, and you can use that. Really the question is too broad to be more useful, but these are some possibilities.
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0Good try! Most people would just vote to close. – 2012-10-02