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quantitative forecasting

"... With quantitative forecasting, historical data and math are used to predict future events" .

Questions:
A) Identify a variable that varies over time. Be sure you have a sufficiently large data set.
B) Construct a time series scatter plot. Is there an apparent trend component? (plug data into Excel, create simple scatter plot)
C) Using an appropriate forecasting tool, predict the value for the next period of time. (add trend line with forward looking attribute turned on)
D) Create a short description of your findings (tell me about some future predicted value, based on your data / trend)

Solution Preview

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"... With quantitative forecasting, historical data and math are used to predict future events" .

Identify a variable that varies over time. Be sure you have a sufficiently large data set.

Construct a time series scatter plot. Is there an apparent trend component? (plug data into Excel, create simple scatter plot)

Using an appropriate forecasting tool, predict the value for the next period of time. (add trend line with forward looking attribute turned on)

Create a short description of your findings (tell me about some future predicted value, based on your data / trend)
Solution:
The data is sale data for ABC Company. Quarterly sales values (measuring in $1,000's) for last 20 years is given and based on these values they want to forecast budget plan for ...

Solution Summary

This solution is comprised of a detailed explanation for time series analysis. The data analysis tool is used for the time series in excel. Scatter plot along with the interpretation is given in the solution. Full interpretation is given for analysis based on the output.

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