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c) How can the firm determine the most suitable forecasting method to use?
Discussion Question 7: a) Which type of smoothing technique is generally better?
b) How do we determine which of two smoothing techniques is better?
c) How can we forecast the values of a time series that contains a secular trend as well as strong seasonal and random variations?
Discussion Question 15: Explain why it is still useful to pursue forecasting even though it is often off the market by wide margins
Problem 7: The following table represents data on three leading indicators for a three-month period. Construct the composite index( with each indicator assigned equal weight) and the diffusion index.
Appendix Problem 1: The following table reports the Consumer Price Index for the Los Angeles area on a monthly basis from January 1998 to December 2000( base year = 1982-1984). Eliminating the data for 2000, use Excel to forecast the index for all of 2000 using a three- and sixmonth average. Which provides a better forecast for 2000 using the data provided?
c) How can the firm determine the most suitable forecasting method to use?
Discussion Question 7: a) Which type of smoothing technique is generally better?
b) How do we determine which of two smoothing techniques is better?
c) How can we forecast the values of a time series that contains a secular trend as well as strong seasonal and random variations?
Discussion Question 15: Explain why it is still useful to pursue forecasting even though it is often off the market by wide margins
Problem 7: The following table represents data on three leading indicators for a three-month period. Construct the composite index( with each indicator assigned equal weight) and the diffusion index.
Appendix Problem 1: The following table reports the Consumer Price Index for the Los Angeles area on a monthly basis from January 1998 to December 2000( base year = 1982-1984). Eliminating the data for 2000, use Excel to forecast the index for all of 2000 using a three- and sixmonth average. Which provides a better forecast for 2000 using the data provided?