What is the difference between retrospective and prospective frequencies?
An example of an AI chatbot conversation about retrospective vs prospective frequencies in statistics.
What is the difference between retrospective and prospective frequencies?
Retrospective frequencies refer to data collected from past events, while prospective frequencies involve data collected from future events.
Can you give me an example of each?
Sure! A retrospective frequency example is analyzing last year's sales data. A prospective frequency example is predicting next year's sales based on current trends.
How do these concepts apply in real-world scenarios?
In healthcare, retrospective frequencies might analyze past patient outcomes, while prospective frequencies could involve tracking new patients over time to predict future health trends.
Are there any limitations to using these frequencies?
Yes, retrospective data may be biased due to incomplete records, while prospective data can be limited by the time and resources needed for long-term studies.
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