Stat week 3

Purpose

To assess your ability to identify when the various types of forecasting models should be used.


Action Items

· Based on your reading and review, select two of the forecasting models and design your own models. Each model should be labeled in separate worksheet tab in a single Excel file. You will create the data for these models. Use text boxes to explain the context of the material.


Submission Instructions

· Complete and submit your assignment per your professor's instructions.


Grading Criteria

· Documentation: thorough documentation with clarity of thought and process: 0 – 2 points

· Problem solving and analysis:

· Solution is accurate (0 – 2 points)

· Calculations are accurate and valid (0 – 1 point)

Responses are detailed and accurate (0 – 1 point)

Purpose

To assess your ability to apply various forecasting methods to forecast future trends.

Action Items

· If you have any difficulty completing the cases, you should work through the problems at the end of Chapter 5 in Quantitative Analysis for practice.

· Complete each of the following cases, making certain that you address all questions in each case:

Moving Average

Weighted Moving Average

Exponential Smoothing

Linear Trend

· Place each problem in a separate worksheet within the same Excel document.

Submission Instructions

· Complete and submit your assignment per your professor's instructions.

Grading Criteria

· Documentation: thorough documentation with clarity of thought and process: 0 – 3 points

· Problem solving and analysis:

· Solution is accurate (0 – 1 point)

· Calculations are accurate and valid (0 – 1 point)

Responses are detailed and accurate (0 – 1 point)