Advantages Application of MATLAB Assignment Help
The above headings are the basis of MATLAB and they are also the basis of many applications that are based on MATLAB in many fields which include engineering, biomedical, and, astronomy.
From all those applications some of them are listed below:
Forecasting of Economy:
For planning, forecasting is the most important factor. It’s a process or method which requires current and previous data or sometimes its required trends for future prediction or estimation.
There are numerous methods for estimations or predictions or in simple words for forecasting and from all those methods the main or most efficient and effective methods are listed below:
- Straight Line
- Simple Linear Regression
- Moving Average
- Multiple Linear Regression
Forecasting methods are categorized in numerous forms or methods and from those categorizes the main or most efficient and effective are listed below:
- Naïve approach
- Average approach
- Drift method
- Seasonal naïve approach
- Quantitative or qualitative method
Many fields required forecasting or forecasting in the key factor in all these fields because they required high precision or approximation and if the forecasting result is not properly approximated than they can face a huge loss (Financial or physical loss).
From all those field some of them are listed below:
- Prediction of Earthquake
- Forecasting of Economy
- Forecasting of Production
- Forecasting of Sales
For different kinds of forecasting MATLAB provides a TOOLBOX which is known as “Econometric Toolbox”. The function of this toolbox is to provide a wide range of functions or models for future predictions or approximations (Forecasting).