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Describes a procedure of constructing a model using the regression equation approach and states there are many pitfalls that the innocent forecaster must look out for, if he/she is to construct a successful forecasting model using the regression analysis approach. Proposes that models for sales forecasting may be divided into two categories – naïve and econometric, but that these approaches to forecasting are not always independent. Posits that development of a forecasting model may involve both the naïve and econometric approaches.