Question

"explain the difference between a point forecast and an interval forecast"

Answer 1

The distinction between the point forecast is a solitary answer case it will rain at 1 pm. An interim figure depends on vulnerability case it will rain between 12 pm and 2 pm. While the interval forecast is utilized on the grounds that a conjecture is dependable accurately wrong and roughly right.

Answer 2

In a nutshell, point forecast is used in a more detailed data presentation while interval forecast is used for short data presentation.

Point forecast involves meticolous data presentation which includes graphs which includes and not limited to quadratic formula and the like. It is used to indephtly explain a quadratic system and quadratic system + SV and lin ear system and linear system + SV.

Interval forecast is for shorter presentation. It usually does not involve quadratic formulas and linear formulas, it just shows the inteval growth of the data. To explain it better, interval forecast is like a time lapse.