Business Forecasting 6th Edition by Holton Wilson, Barry Keating, John Solutions

Exercise 5

Explain the difference between a training data set and a validation data set. Why are these data sets used routinely with data mining techniques in the XLMiner© program and not used in the ForecastX™ program? Is there, in fact, a similar technique presented in a previous chapter that is much the same as partitioning a data set?