Prepare a 5-6 page report (excluding the cover page, the reference page, and any
tables and graphs), which describes the uses of business forecasting. You need to
include at least one real world example and apply at least two different methods of
forecasting presented in Chapter 5. Please present both your raw data and your
two numerical forecasting results from your two chosen forecasting methods.
APA format and appropriate use of section headings are required. (LO 1, 2, 3,
5)
Hint: You need to collect at least one data series for your analysis in this
assignment. Please include the name and the exact formula or Excel/QM
function/output of each forecast method you applied to your analysis. For
example, if you find GDP data from year 2000 to 2011, then you need to forecast
the GDP in the next period, i.e. 2012. You need to select two different forecast
methods. For each method, you need to provide the name of the method and your
numerical forecast together with the formula or program output you used to get
that number. (A verbal description by itself will not receive any credits. Please
copy and paste in or attach your Excel Worksheet, which is a must to receive
credits for statistical analysis.) Finally, please present your raw data either in a
table or a graph. A graph is preferred as you can also illustrate how well your
forecast may fit into the actual series. You do need to analyze your own data
and cannot simply cite the statistical result published else where.
