Description
Purpose of Assignment
The purpose of this assignment is for students to learn how to apply Operations Forecasting.
Assignment Steps
Resources: Microsoft® Excel®
Select a business operations dataset from the internet or other sources which can be used for forecasting in the University Library.
Develop a minimum of three quantitative forecasts using Microsoft® Excel®.
- Compare and contrast each quantitative forecast you develop.
- Choose the one forecast you determine would be the best for the firm and be prepared to explain why you chose this.
- Evaluate the impact this forecast would have on the firm from a financial metrics standpoint.
Develop a 700-word report in which you describe your forecasting project including details on all the assignment steps.
Format your assignment consistent with APA guidelines.
Explanation & Answer
Hy, i have attached the answer, kindly confirm, thanks
Stanford University 1st year admissions
Year
Admissions
2017 ?
2016
3856
2015
3860
2014
3823
2013
3885
2012
4178
Total
19602 number of years =5
Year
1
2
3
4
5
2012
2013
2014
2015
2016
2017
AdmissionForecast
3920
3885
3823
3902,5
3860
3854
3856
3841,5
3858
3950
3900
3850
3800
0
Admission
Admission
2 per. Mov. Avg.
(Admission)
1
2
3
4
5
6
Year
2012
2013
2014
2015
2016
Admission
3920
3885
3823
3860
3856
Admission
3940
3920
3900
3880
3860
3840
3820
3800
2011
2012
2013
2014
2015
Admission
Admission
Linear (Admission)
y = -15,3x + 34683
2015
2016
2017
2018
2019
3)
Naïve method
Next period forecast = Last Period’s actual:
F t1 A t
Next period forecast = 3856
1
Running Head: QUANTITATIVE FORECASTS
Quantitative Forecasts
Student’s Name
Institution
Date
2
QUANTITATIVE FORECASTS
Forecasting is typically a method of approximation or estimation of future events or
outcomes. Forecasting can be applied in business organization to predict the future performance
of investment projects or market trends. Planning for future is a pivotal aspect of running a business
as it ensures that a business is able to effectively adapt to changing market trends. In this regard,
the contin...