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Messenger Service Three messenger services deliver to a small town in Oregon. Service A has 60% of all the scheduled deliveries, service B has 30%, and service C has the remaining 10%. Their on-time rates are 80%, 60%, and 40% respectively. Define event O as a service delivers a package on time. {Messenger Service Narrative} If a package was delivered 40 minutes late, what is the probability that it was service B ?
Quantitative Forecasting
The use of numerical data and statistical models to predict future events or trends.
Qualitative Forecasting
A forecasting method that relies on expert judgment and historical data analysis rather than quantifiable metrics, often used when precise data is unavailable.
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