Question

When the future level of some variable is seen as a function of something other than time, the best forecasting models to use are __________ such as linear regression.
a. Unselected qualitative techniques
b. Unselected quantitative forecasting models
c. Unselected time series models
d. Unselected causal models
e. Unselected I DON'T KNOW YET

Answer 1

Answer:

The correct answer is causal models.

Explanation:

The causal model is an approach to the statistical analysis of the cause and the effect in the framework of potential (counterfactual) outputs. It owes its name to Donald Rubin. The potential exit framework was first proposed by Jerzy Neyman in his 1923 Master's thesis, however in that work the proposal was for the context of purely random experiments. Rubin, along with other statisticians, expanded the model to a much more powerful framework in order to include causality in the cases of observational and quasi-experimental studies.