Estimation and forecasting are indeed different. One major aspect of each of them relates to the amount
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Estimation and forecasting are indeed different. One major aspect of each of them relates to the amount of time that they are applicable to. Estimation deals with a shorter time span. In addition to the variation in time, it is the data which really drives the changes between estimation and forecasting. Estimation considers some and more recent data to help make a decision whereas forecasting accounts for all data (MHRD). Discuss?
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