I'm new to SAS and I was doing some forecasting in SAS Forecast Studio on sales data and was trying to figure out the difference between these two options: Model Select -> Use holdout sample for model selection Forecast -> Calculate statistics of fit over an out-of-sample range It's my understanding that in using a holdout it does things in this order: 1) remove holdout from sample 2) calculate statistics of fit for multiple models 3) choose best model 4) re-introduce holdout data 5) calculate statistics of fit over all data With the "Calculate statistics of fit over an out-of-sample range" option can someone explain to me how this process is different?
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