Causal model

Causal model,

Definition of Causal model:

  1. Estimating approach based on the assumption that future value of a variable is a mathematical function of the values of other variable(s). Used where sufficient historical data is available, and the relationship (correlation) between the dependent variable to be forecasted and associated independent variable(s) is well known. Also called causal forecasting model. See also model.

Meaning of Causal model & Causal model Definition